A ceremony of signing agreements with Eti Bakir A.Ş. and Artvin Maden A.Ş., subsidiaries of the Turkish Cengiz Holding Group, for the study, research, exploration, development and operation of ore deposits "Gashgachay" located in the territory of Dashkasan and liberated Kalbajar region, as well as “Elbaydash” and “Aghduzdagh” in Kalbajar region.

Speaking at the event organized in this regard at the Ministry of Economy, Minister of Economy Mikayil Jabbarov informed of the measures taken to ensure the implementation of the President's Decree "On the regulation of some issues related to the study, research, exploration, development and operation of "Gashgachay", "Elbaydash" and "Aghduzdagh" ore deposits of the Republic of Azerbaijan”. The minister stressed that among the priorities in our liberated territories are the development of the mining industry, and exploration and operation of various ore deposits with high potential. For this reason, it is of utmost importance to reintegrate our liberated territories into the country's economy by attracting local and foreign investments and ensuring economic activity here.

The subject matter of the signed agreements is to start mining operations in our liberated territories, especially in the Kalbajar region. Noting that the event is portentous and proud, Mr. Jabbarov focused on large-scale restoration work carried out under the leadership of the President of the Republic of Azerbaijan in our territories liberated by the Great Victory in the 44-day Patriotic War. Along with Azerbaijani companies, companies from friendly and fraternal Turkey, as well as from a number of countries, are involved in this work. The projects launched today once again demonstrate the Azerbaijani-Turkish brotherhood. It was emphasized at the meeting that the activities of our partners not as contractors, but as investors are especially important and are clear evidence of the availability of business opportunities in our liberated territories. The minister expressed confidence that the projects will be implemented in accordance with high production, technological and environmental standards. Subject to the results of geological prospecting work, in the future, consideration will be given to the construction of processing plants around these fields, which will form a value chain. The implementation of projects is of great importance from the viewpoint of the effective use of the region's natural resources and their involvement in economic circulation, and the revival of the economy. Mr. Jabbarov noted that active work is underway to reconstruct and re-commission an iron ore mine according to the instruction given by the President of the Republic of Azerbaijan during his visit to Daskashan region, and that the country's transit and logistics capabilities have created favorable conditions for the development of this sector.

Minister of Ecology and Natural Resources Mukhtar Babayev stressed that our liberated lands are rich in natural resources, noting the importance of putting deposits into operation in the creation of production and processing zones, and that the work is underway to study new fields.

The Chairman of the Board of the Turkish Company Cengiz Holding Mehmet Cengiz stressed that the executed agreements will contribute to bilateral economic cooperation and the creation of new enterprises and jobs in the liberated territories of Azerbaijan.

As part of the event, presentations were made on economic building works, geological study and operation of mineral deposits in the liberated territories of Azerbaijan.

In conclusion, the Ministry of Economy and the Ministry of Ecology and Natural Resources of the Republic of Azerbaijan signed an agreement with the Turkish company Artvin Maden İşletmeleri A.Ş. on the study, research, exploration, development and operation of the Elbaydash and Aghduzdagh ore deposits, as well as an agreement with Eti Bakır A.Ş. for the study, research, exploration, development and operation of the Gashgachay ore deposit. Minister of Economy Mikayil Jabbarov, Minister of Ecology and Natural Resources Mukhtar Babayev and Chairman of the Board of Cengiz Holding Mehmet Cengiz signed the document.

Note that Cengiz Holding, which includes Eti Bakir A.Ş. and Artvin Maden A.Ş. was founded in 1980. Known for its large investments, Cengiz Holding operates in Turkey in the fields of construction, energy, mining, services, tourism, aviation, insurance and others. The Holding has signed successful infrastructure projects, including the construction of roads, bridges, tunnels, dams, ports, railways, subways and power plants, airports, pipelines, mining and industrial facilities. Since 2000, Cengiz Holding has built the first hybrid power plant in Turkey, expanding its operations by investing in new hydro, thermal, wind and solar power plants with the most technologically advanced infrastructure.

Cengiz Holding also carried out the construction of roads on the Black Sea coast and Istanbul Airport, the largest private sector investment in Turkey. In addition to Turkey, Cengiz Holding implements infrastructure, energy and mining projects in a number of foreign countries such as Bulgaria, Kyrgyzstan, Iraq, Croatia, Uzbekistan and Romania. The Holding employs over 30,000 people.