STATUS: ONGOING

The Azerbaijan Business Development Fund has invested in the establishment of the "AzerBazalt" enterprise for the extraction of basalt at the "Chaykend" deposit in the Goygol district and the processing of basalt rock in the city of Ganja.

In the initial phase, the project will focus on producing basalt powder and mineral fertilizers derived from it. In the next stage, the production of high-tech composite materials – such as basalt fibers, reinforcement bars, and meshes will be produced for use in construction, transportation, energy, and aerospace industries.

Due to its environmental benefits and broad applicability in agriculture, industry, and construction, demand for basalt-based products is steadily increasing. Local production not only meets domestic needs, but also creates strong export potential.

The project holds strategic significance for the development of Azerbaijan’s non-oil sector and offers long-term economic efficiency and environmental sustainability.