BAKU, Azerbaijan, November 7. As earlier reported, President of the Republic of Azerbaijan Ilham Aliyev has signed a decree on establishing the Azerbaijan Transport and Communications Holding and resolving some related issues, Trend reports.
The charter capital of the newly setup holding is 10 million manat ($5.9 million), formed from funds contributed by state institutions transferred to the holding’s management.
The expenses for organizing and ensuring the holding’s activities will be financed from the following sources: funds from state institutions transferred to the holding’s management (in amounts and procedures established by the President of the Republic of Azerbaijan for each institution); and other sources not prohibited by law.