The President SIGNED a decree: This institution is being liquidated.

“Azərbaycan Aluminium” Open Joint Stock Company is being liquidated. Medianews.az reports that this is reflected in the Decree signed by President Ilham Aliyev titled “On a number of measures to ensure the development of the mining (metal ores) and metallurgical industry in the Republic of Azerbaijan.” According to the decree, the transfer of the assets of “Azərbaycan Aluminium” Open Joint Stock Company to the balance sheet of “AzərAluminium” Limited Liability Company will be ensured. Additionally, the creditor debts of “Azərbaycan Aluminium” Open Joint Stock Company, as well as the debts to state organizations, the payment of which has been deferred for 25 years according to the Decree No. 678 dated March 31, 2001 of the President of the Republic of Azerbaijan “On the approval of the Agreement on the right to manage ‘Azərbaycan Aluminium’ Joint Stock Company,” and the taking of necessary measures related to the write-off of debts arising before the State Debt and Guarantee Obligation Security Fund, as well as the necessary measures for the termination of tax liabilities in accordance with the Tax Code, must be implemented. Taking into account the liquidation of “Azərbaycan Aluminium” Open Joint Stock Company, the Ministry of Finance will ensure the repayment of the confirmed debts of “Azərbaycan Aluminium” Open Joint Stock Company to non-state organizations within one month from the date of submission of the relevant confirming documents, using the funds of the state budget of the Republic of Azerbaijan or other financial sources stipulated by law.