"Azerboru" OJSC to sign long-term contract with Russian Oil-Gas Trade House

APA was informed about it by the Chair of Board of "Azerboru" OJSC Azim Azimov.

"Pursuant to the contract concluded with the Russian Oil-Gas Trade House first lot of pipes more than 1 thousand tons was delivered to the Russian market. At the end of April we will sign another contract for the next lot of pipes weighing 4 thousand tons. At the following stage, this contract will be continued," - Mr.Azimov said.

According to Mr.Azimov saying that last year rehabilitation works were implemented in the tube works in Sumgait, that is why production was not large. One of the main units in the enterprise was commissioned at the end of the last year. 140 analogous units are planned to be commissioned as well.

"Special program was developed for improvement of production. $10 million of investment and $20 million of turnover means are required to resume production. If the necessary capital is attracted, it will be possible to produce 324 thousand tons of pipes every year, what means approximately 13% of growth or additional 1200 new jobs," - the Head of the enterprise said.

Mr.Azimov also notes that in the future "Azerboru" OJSC intends to advance proposal to establish steel mill complex in the territory near Dashkesan.