By Ayya Lmahamad
Russia's Pipeline Coating and Technologies LLC plant for the
production of external concrete coating for pipelines, located in
the country's Volgograd region, plans to arrange supplies of
magnetite ore from Azerbaijan, Azernews reports, citing TASS.
The plant's General Director Andrey Ryndovskiy stated that
earlier the plant purchased this raw material in Sweden.
'One of the raw materials for our company is heavy magnetite
ore, which is necessary for the preparation of heavy concrete mixes
applied to pipes. It used to be supplied in series from Sweden. But
under current circumstances, Sweden restricts the supplies, that is
why we plan to establish new channels with Azerbaijan, as a
friendly country, and ensure the further viability of production,'
Azerbaijan and Russia cooperate in different sectors, such as
economy, agriculture, customs, communications, high technology, and
others. Over 230 intergovernmental and intercompany documents have
been signed between the two countries and six 'road maps' are being
Azerbaijani investments in the Russian economy have exceeded
$1.2 billion, with the majority of these investments being in the
non-oil sector. In addition, Russian investments in Azerbaijan's
economy totaled $6.3 billion, with $5 billion invested in the oil
sector and $1.3 billion in non-oil sectors.
The trade turnover between Azerbaijan and Russia amounted to
$2.9 billion in 2021, making Russia Azerbaijan's third-largest
Ayya Lmahamad is AzerNews' staff journalist, follow her on
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