Azerbaijan, Baku, 13 May / Trend A.Akhundov /
Assets of Temiz Sheher JSC (Clean City) reached 45.484 million manat by the end of 2012, an increase over the previous year of 65.16 per cent, according to the company's balance sheet based on its performance in 2012 published in the official press.
According to the report, more than 90 per cent of the company's assets account for long term assets.
The company's paid-up share capital remained at the 2011 level of 0.5 million manat. The total capital and reserves exceeded 0.53 million manat.
Total liabilities of the company stood at 44.95 million manat last year, increasing by 63.81 per cent.
Revenues of Temiz Sheher in 2012 amounted to 6.79 million manat and expenses - 11.46 million manat. The company completed the fiscal year with a loss of 4.68 million manat.
Temiz Sheher JSC deals with the placement, disposal and recycling of waste in Baku and the Absheron Peninsula, while the executive power of Baku is responsible for cleaning and delivery of waste.
The main reason for the establishment of the company is the improvement of the ecological situation in Baku and Absheron. Its activities cover several key areas and in particular, construction of the plant for incineration of municipal waste with a capacity of 500,000 tons per year and production in the combustion process of 231 million kilowatt/hours of electricity.
The official exchange rate on May 13 is 0.7846 AZN / USD.