Danieli & C. Officine Meccaniche S.p.A (Italy) and Baku Steel Company (Azerbaijan) have signed an agreement to invest 1.225 billion euro into the creation of the new iron and steel complex of 5 works.
“Sumgait will see the construction of 5 works in 3 years”, the economy minister Shakhin Mustafayev said.
The project will create 5.2 thousand jobs. 50% of the products, manufactured by the complex, will be exported. (Ukrainian metal)