BAKU, Azerbaijan, The investment value of Azerbaijan’s first industrial explosives plant, AzerBlast LLC, which will be constructed in Ganja, is 14 million manat ($8.2 million), said Executive Director of the AzerBlast LLC Rizvan Bakhshiyev at a press conference dedicated to the project, Trend reports.

“Of these, 5.5 million manat ($3.2 million) are set for construction, 4 million manat ($2.3 million) for the purchase of equipment, and the rest is for operating expenses. We expect that after the launch of the enterprise, the investment will fully pay off in 5.3 years. The company’s revenues in the first six years are projected at 90 million manat ($52.9 million),” the executive director said.

According to him, the plant will be built on an area of 15 hectares, and its total area will be 5,665 square meters.

“The production capacity of the plant will amount to 31,000 tons per year, and the main products manufactured will be explosives, which are used in the mining industry and road construction. At the initial stage, it is planned to produce 500 tons of explosives per month or 6,000 tons per year,” he said.

“The needs of AzerGold CJSC for explosives at gold and iron ore deposits are projected at 1,445 tons, and the needs of Dashkasan Iron Ore LLC – 1,735 tons. Explosives will also be manufactured for other organizations involved in mining and other industrial sectors,” he added.

Source: TREND News Agency