New enterprises in Ganja to boost non-oil industry – Aliyev

Azerbaijani President Ilham Aliyev who started a visit to the country’s western regions on Monday attended the ground-breaking ceremonies of several new enterprises in the city of Ganja.

The facilities – Filizsaflashdirma ore refining company, a steel foundry complex and an aluminum plant – will be constructed to boost the development of Azerbaijan’s non-oil sector. 1,800 jobs will be opened when the enterprises are commissioned. The Ganja Steel Complex will produce a million tons of steel a year.

“The construction of the enterprises will be a new page in the development of the country’s non-oil industry,” President Aliyev told the public after the ceremony.

Aliyev emphasized that the goods to be produced will be used not only domestically but also for exports. The new enterprises will be supplied with cutting-edge equipment and their employees provided with suitable working conditions, he said.

The president spoke of the country’s rampant economic development. He said $46 billion has been invested in the national economy since 1993.

Aliyev noted that Azerbaijan is currently ranked 60th by international financial institutions on credit rating. “This is an extremely high indicator for Azerbaijan, whose rating equaled zero 15 years ago.”

The head of state added that domestic investments exceeded foreign investments in 2007.*