Fonte Capital Ltd signed an agreement with Dashkasan Iron Ore LLC on the establishment of a joint venture

On September 23 in Baku, within the framework of the 1st Azerbaijan International Investment Forum (“AIIF 2025”), a strategic cooperation agreement was signed between the Azerbaijani company Dashkasan Iron Ore LLC and the Kazakhstani Fund Fonte GreenMet Investments Fund OEIC Ltd, managed by Fonte Capital Ltd.

Under the agreement, the parties approved the scope of activities of the joint venture - Azerbaijan Metal Company LLC. The agreement was signed by Jeyhun Aliyev, CEO of Dashkasan Iron Ore LLC, and Yerzhan Mussin, CEO of Fonte Capital Ltd.

The new joint venture will be engaged in the financing, design, construction, and operation of a Hot-briquetted Iron (HBI) plant with an annual capacity of 2 million tons. At the initial stage, the plant’s charter capital amounts to USD 600,000. The plant is planned to be built in the Shamkir district of Azerbaijan and commissioned in early 2029, utilizing modern and environmentally friendly technology.

The implementation of this project will represent an important step in strengthening economic ties between Kazakhstan and Azerbaijan, opening new opportunities for long-term cooperation in sustainable solutions for the metallurgical industry.