Azerbaijan Aluminum is being liquidated following a decree signed by Ilham Aliyev, the  President of Azerbaijan. The decision is part of broader steps to develop the mining and metallurgy sectors in the country.

As part of this process, all assets of the company will be transferred to Azeraluminum. This includes its facilities, equipment, and other resources. The aim is to reorganise the sector under a new structure.

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The government has also outlined steps to settle the company’s financial obligations. The Ministry of Finance of Azerbaijan has been directed to repay the approved debts of the company. These payments will be made to non-governmental organisations.

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The funds for repayment will come from the state budget or other sources allowed under the law. The process must be finished within one month after the documents are submitted.

Alongside the restructuring, Azerbaijan will establish a new West Industrial Park aimed at boosting iron ore processing and strengthening the metallurgical value chain. The move follows ongoing modernisation of ore processing facilities in the Dashkasan and Gadabay districts, as well as the development of new deposits in liberated territories, which have already enhanced production and export capacity.

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The decree further highlights the need to improve the efficient use of mineral resources, strengthen linkages between extraction and processing, enhance infrastructure and logistics coordination, and expand public-private partnerships to support long-term sector growth.