A new steel rebars works valued at $22 million was commissioned on the basis of Caspian Steel, that had been idle for the past 6 years.
Aktau Steel has already created over 150 jobs, and the number is expected to double.
“Azerbaijani side invested over $22 million in the restoration of the enterprise. The capacity of the works now is 250 thousand tons of steel rebars per year. Kazakhstan demonstrates a high demand of construction rebars. We intend to enter the domestic market, and at the same time we have large orders for exports. Though local customers are still a priority for us”, the company CEO Riad Mirzoyev said. (Ukrainian metal)