According to the resolution of Azerbaijan's government, all imported goods and equipment under a construction project for steel production are exempt from involvement in value-added tax. The government's decision was taken on the proposal of JSC "Azerbaijan steel production complex," which had been agreed with the ministries of finance, taxes, justice, economics, industry, and the State Customs Committee. It will be in force until January 1, 2019.
The project to build a new steel complex, including all stages of steel production - from iron ore mining to manufacturing the final product - began with the establishment in April 2013 of a new state-owned enterprise with capacity of not less than one million metric tons per year. The cost of the project is not reported. The project consultant is Marubeni Corp..