Azerbaijan, Baku, 30 May / Trend, A.Akhundov /
To date, the Azerbaijan Investment Company (AIC) has directed 68 percent of its investments to the industrial sector, the company told Trend on Thursday.
According to the company, 18.9 percent of the AIC investment portfolio belongs to the agricultural sector, 4.91 percent - the food industry and 8.04 percent of the funds are invested in subsidiaries.
The company is involved in the implementation of nine ongoing projects worth over $1 billion; its investments exceed $113 million.
The biggest AIC project is the construction of the Baku Shipyard. AIC's stake in the project worth $ 470 million is valued at $40 million.
In addition, the company is involved in the construction of a seed production plant worth $24.03 million, an expansion project at one of the largest poultry farms in Azerbaijan - "Devechy Broiler" - valued at $14.48 million, the construction of an agro-service enterprise in Aghstafa worth $5.93 million, the construction of a new cement plant worth $300 million, the construction of a new milk processing plant worth $12.23 million and the establishment of the Caspian International Investment Company worth $66.16 million.
AIC was established by a Presidential decree dated March 30, 2006. The only founder is the Ministry of Economic Development of Azerbaijan.
The country's 90 million manat worth of authorized capital was increased to 160 million manat in 2010 upon its establishment.
The official exchange rate on May 30 is 0.7846 AZN / USD