“Baku Steel Company” is preparing a new development strategy

“Baku Steel Company” is preparing a new development strategy

“Baku Steel Company”, the largest metallurgical company of the Caucasus region, is successfully continuing the preparation of the medium and long-term development strategy for 2023-2030. As a part of this, a number of measures are already being implemented in the field of preparation of the general development and transformation concept of the Society, improvement of the corporate management system.

Polad Hummetov, 1st Deputy General Director of “Baku Steel Company”, said the following in this regard:

In preparing our development strategy, advanced international experience and global trends observed in the metallurgical industry are studied. Thus, together with the prestigious consulting companies of the world, work is being continued in the direction of strategy development, evaluation of possible investments, diagnosis and improvement of the current technical and technological situation in all production enterprises belonging to the Society. I would also like to emphasize that one of the most important points for “Baku Steel Company” JSC is the full provision of labor safety and health of its employees in the production process. In this direction, specialists from European countries were also involved in the process in order to improve the health, safety and environmental protection of the Society in accordance with the international practice in the metallurgical industry. From 2023, the next goal of “Baku Steel Company” CJSC is to continue its activities more successfully with a renewed strategy and a developing corporate management system.

Heavy industry, including ferrous metallurgy, is one of the important areas of the non-oil sector in Azerbaijan, and its development is considered one of the priority issues. The development of the mining industry and metallurgical complex in the country is included in the document “Strategic Road Map for the Development of Heavy Industry and Machine Building” approved by President Ilham Aliyev. The preparation of medium and long-term development strategy of “Baku Steel Company” is also important in terms of supporting the implementation of the “2022-2026 socio-economic development strategy” approved by the head of state.

It should be noted that “Baku Steel Company” currently produces high-quality fittings, katanka (wire), round bars, seamless pipes, square and round bars, as well as various shaped castings. During its more than 20 years of activity, the products of “Baku Steel Company”, which have become a well-known brand not only of Azerbaijan, but of the entire region, are sold in great demand in the local market, and are exported to more than 20 countries in Europe, America and Asia.

Last month, “Baku Steel Company” was accepted as a regular member of the “World Steel Association”, which is considered a prestigious international organization of world metallurgists.

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