Azerbaijani parliament passes bill on special funding of investment projects (UPDATE)
Details added (first version posted on 18:07)
Baku, Azerbaijan, March 15
By Azad Hasanli - Trend:
The Azerbaijani parliament passed the bill "On implementation of investment projects in connection with the construction and infrastructure facilities on the basis of special funding" in the second and third readings at a plenary meeting March 15.
In accordance with the Boot-Operate-Transfer (BOT) model provided by the law, investment costs will be reimbursed to investors through purchasing their products by authority or consumers. However, if such form of payment is wholly or party impossible, the investor will be paid financial aid.
Validity of a contract concluded within the framework of BOT model cannot exceed 49 years.