Kazakhstan and Azerbaijan set to launch joint iron production venture
The companies from Kazakhstan and Azerbaijan signed an agreement to establish a joint enterprise in iron production as part of the inaugural Azerbaijan International Investment Forum (AIIF 2025), Kazinform News Agency reports citing the press service of the Dashkesan Iron Ore Plant.
The joint venture will build and operate a hot briquetted iron plant with an annual capacity of 2 million tons. The plant will be built in Shamkir District and is to be commissioned in early 2029, using modern, environmentally friendly technologies.
The total investment in the plant is estimated to reach 700 million US dollars. The project is expected to contribute nearly 694 million US dollars annually to Azerbaijan’s GDP and generate some 1,600 jobs.
Once put onstream, the plant is projected to create up to 4,000 jobs and add as much as 13 billion US dollars to GDP.
