Azerbaijan, Baku, Dec.3 / Trend, N.Ismayilova /
The Caspian International Investment Company (CIIC) has begun to implement the fourth project, the company's CEO Togrul Kocharli told Trend on Saturday.
"The project is implemented in the agricultural sector, and within the next three years it is planned to invest about 1.5 million manat in this project," Kocharli said.
He said the CIIC is engaged in registration of the company, which will implement the project.
Authorized capital of the CIIC is 31 million manat, while investment portfolio for the three previously implemented projects - $16 million.
The CIIC was registered in March 2008 as a closed joint stock company with an initial capital of 2.954 million manat. The company was established by the Azerbaijan Investment Company and the Islamic Cooperation for the Development of the Private Sector. At present, the list of the company's shareholders has expanded. The Kuwait Investment Company Hares Group, Yemeni Al Ahmar Group, Sudanese MAM Group, and Dubai TANMIYAT Group, as well as the Islamic Development Bank, are among the company's foreign shareholders.
The share of foreign shareholders in the CIIC capital exceeds 23 million manat.
According to the strategy, CIIC investments will be directed toward the real economy.