Azerbaijan's ASMC launches $15 mln metal products plant

BAKU. Nov 9 (Interfax) - The Azerbaijani company ASMC LLC (part of Almet Holding) has commissioned a metal products manufacturing facility in the Aghdam Industrial Park with investment of 24.9 million manat ($14.6 million), the press service of Azerbaijani President Ilham Aliyev reported.

Aliyev attended the opening ceremony.

The plant, with an area of around 1.7 hectares, has established production of steel mesh, wire, including annealed and galvanized wire, and nails.

The project is being implemented in two stages, the statement on the website said. "The financing of the first phase, valued at 8.8 million manat, includes nearly 4.7 million manat. Investments in the second phase are projected at 16.1 million manat," it said.

At the first stage, annual production capacity will be 4,900 tonnes of steel mesh, 12,000 tonnes of wire and more than 1,000 tonnes of cold-deformed rebar. At the second stage, production of 10,000 tonnes of galvanized wire and 8,240 tonnes of high-carbon drawn wire per year is planned.

The facility, equipped with machinery from leading companies in Italy, Germany, Turkey and China, plans to sell its products on the domestic market as well as for export. It currently employs 26 people. After reaching full production capacity, the number of permanent jobs will be raised to 100.

ASMC became a resident of the industrial park in Aghdam in 2024.

According to information on its website, Almet Trading was founded in Baku in 2016 with the aim of becoming a leader in the supply of ferrous metals and raw materials, complemented by comprehensive logistics solutions. It later became a holding company with a global presence, opening offices in the UK, Turkey and Georgia.

The Aghdam Industrial Park, created in 2021, covers an area of 190 hectares. Thirty-nine enterprises are registered there, including 37 residents and two non-residents. The total value of the projects exceeds 375.5 million manat, and actual investment is 192.6 million manat.

The official exchange rate on November 9 is 1.7 manat/$1.