Caspian International Investment Company considers possibility of financing new projects
Azerbaijan, Baku, October 19 / Trend , N.Ismayilova /
The Caspian International Investment Company (CIIC), established by the Azerbaijan Investment Company (AIC) and Islamic Corporation for the Development of the Private Sector (ICD) is considering 10 to 15 projects totaling 30 million manat, the executive director of CIIC Togrul Kocharli said on Oct. 19.
"Consideration of these projects will take 2-3 months, said Kocharli. - They cover various sectors of the economy, including agriculture, construction and logistics."
Today CIIC's authorized capital totals 23 million manat, of which 17 million manat accounts for foreign investors.
Caspian International Investment Company was registered in March 2008 as a closed joint stock company with initial capital of 2.954 million manats. The participation share of AIC was 25 percent and ICD - 75 percent.
To increase the capital, on September 23 last year, the State Securities Committee registered the 62,040 shares of CIIC par value of one share amounting to 850 manat.
According to the strategy, CIIC investments will be directed towards real economy, except production of alcoholic beverages and pork products, which is contrary to the principles of Shariah, as well as banking and insurance institutions operating in the standard conditions of funding and provision of insurance services.
Official rate on Oct. 19 is 0.803 AZN/USD.
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