Azerbaijani Corporation ‘Akkord’ completes projects with total contract value of $1.7 billion
Azerbaijan, Baku, April 6 / Trend, A.Akhundov /
Akkord Industry Construction Investment Corporation implements five large scale road infrastructure projects in Azerbaijan with the total contract value of approximately AZN 314 million, Khagani Guluzade, Chairman of the Board of Directors & General Director of the Corporation said in an interview to The Business Year magazine.
"To date, the corporation has completed infrastructure projects with a total contract value of more than $I.7 billion in Azerbaijan and abroad. In addition, the corporation has been continuously developing two other lines of its core business: the construction of real estate and public facilities, and the production and processing of construction materials," Guluzade said.
He noted that in general the corporation owns and operates 39 various plants throughout the country.
One of the recent business directions within the overall infrastructure development line is the construction of water supply and sewerage infrastructure systems in Azerbaijan.
"Currently, in six regions of the country, Akkord is implementing 11 such projects with a total contract value of almost AZN 300 million. Moreover, Akkord began expanding the range of its infrastructure business by participating in construction projects assigned by the Baku Metro Authority and envisaging building of new lines and stations for the underground network. Since this business area is new for Akkord, the corporation teamed up with Bouygues Travaux Publics, one of the global construction leaders and a part of Bouygues Group of France. Regarding real estate development, the corporation has also constructed and commissioned 10 residential complexes in Baku with a total area of over 775,000 sqm., and has also developed 56,000 sqm. of commercial area," Guluzade said.
The official exchange rate is 0.7846 manat to $1 on April 6.