Azerbaijan took an important step towards industrial growth and low -carbon steel through a joint venture with Kazakhstan. According to local media, the Fonte Greenmet Investments Fund signed an agreement on the construction of modern hot Briket iron (HBI) in the Shamkirsky district. This project is one of the largest industrial investments in the Azerbaijani mining industry. With a planned annual production capacity of two million tons, it is expected that the plant will be fully operated by the beginning of 2029.
investments and economic impact
the HBI plant will require investment, mainly from foreign partners. The expected advantages include:- annual contribution of GDP: 694 million dollars. USA
- Direct work: 1600
- .
Ecological and technological aspects
The plant will use the technology of direct reduced iron (DRI), which reduces carbon emissions to 60 percent compared to traditional explosive furnaces. While natural gas will be used initially, the plant is intended to switch to hydrogen in the future, maintaining production with zero carbon steel.
