STATUS: ONGOING

Continuing to support the development of Azerbaijan's economy, the Azerbaijan Business Development Fund supports the implementation of a project for organizing extraction at the “Chaykend” basalt deposit in the Goygol region and establishing a modern processing plant in Ganja city named “AzerBazalt Scientific-Production Union".

In its initial phase, high-quality mineral fertilizers will be developed using basalt powder obtained through the grinding of basalt rock. Unlike chemical alternatives, these fertilizers are designed to enhance long-term soil productivity while minimizing environmental impact.

In the next phase, the project will expand into a more advanced and large-scale production process. The plant will manufacture lightweight, durable, and high-strength basalt fiber composites, including reinforcements and mesh, intended for use in construction, transportation, energy, and even the aerospace industry. With global demand for such materials rising rapidly, this initiative is expected to significantly enhance Azerbaijan’s competitiveness in both domestic and international markets.

The “AzerBazalt” project is not merely the establishment of a new industrial facility; it represents a forward-looking, innovation-driven model for the development of Azerbaijan’s non-oil sector. It will address domestic demand while positioning the country as a producer of high-tech, eco-friendly products on the global stage. In the near future, the name “AzerBazalt” could well become synonymous with sustainable, high-performance materials proudly made in Azerbaijan.

Total cost of the project: USD 20.1 million

Number of workplaces: ~100

Investment year: 2025