Azerbaijan, Baku, May 29 /Trend A.Hasanov/
AGA Group plans to complete the construction of a 25-storey Demirchi business centre which will be located near the Khatai metro station in Baku by January 2013, CEO of the company Aydin Demirchi said during a signing ceremony to refinance the construction of the centre between the AGA Group and the Black Sea Trade and Development Bank (BSTDB) on Tuesday.
Under the agreement, BSTDB will provide $22 million to AGA Group for seven years with deferred payments of the principal loan in two years.
The AGA Group was established in 1994 and 20 per cent of office buildings in Baku are owned by the company. The Caspian Plaza became the first building built by the company in 1998. In the period from 2000-2010, the company commissioned more than 45,000 square metres, among which include the Silkway Business Centre, the Old Caspian Business Centre and the AGA Centre.