Azeraluminium plans to raise annual exports to 340M manats by 2030

Azeraluminium LLC plans to increase its annual export value to around 340 million manats ($200 million) by 2030, Deputy Finance Director of Azeraluminium Jeyhun Abdullayev said at the 31st Baku Energy Forum, Report informs.

He noted that the figure currently stands at around 80 million manats ($47.1 million).

"We are one of the largest producers and mainly export our products. We work with the US, Türkiye, Greece and the UK markets, which are major consumers of aluminum. Our current annual impact on GDP is 85 million manats ($50 million). By 2030, this should increase by 295 million manats ($173.5 million) through new investments. We currently pay around 9 million manats ($5.3 million) in profit tax annually. By 2030, we plan to contribute around 23 million manats in taxes ($13.5 million)," Abdullayev said.

According to the deputy director, annual production capacity is expected to double within three years.

"Our annual primary aluminum capacity will be increased from 50,000 tons to 100,000 tons by 2030. We are working on rolled products, especially cold-rolled products, which should account for up to 50%. One of our main consumption components in aluminum production is anode blocks. We will invest in the production of anode blocks in Azerbaijan, which will have a positive impact on our economy," he said.