Azerbaijani investment company to increase capital

Business Materials 17 September 2018 21:30 (UTC +04:00)

Baku, Azerbaijan, Sept. 17

By Anvar Mammadov - Trend:

The Azerbaijan Investment Company (AIC) plans to increase its capital, the company told Trend on Sept. 17.

"AIC's task is the sustainable development of the non-oil sector of the Azerbaijani economy through immediate investments in projects and creation of industrial districts. The company's goal is to ensure the development of non-oil segments of the economy, as well as organization and regulation of industrial districts. In connection with new projects and construction of industrial districts, it is planned to allocate additional funds from the state budget," the company said.

Presently, the company is participating in nine projects with a total cost of $1.2 billion. Implementation of these projects attracted $450 million of foreign direct investment.

The Azerbaijan Investment Company was established by the presidential decree on March 30, 2006. The authorized capital of the company is 160 million manats. The main task of the company is long-term investment in individual joint stock companies and other commercial organizations in the non-oil sector through purchasing shares in them.

The company's activities cover ICT, agriculture, alternative and renewable energy, food industry, logistics, tourism, processing etc.

Presently, AIC has shares in AzerToxum, Milk Pro, Seba, Baku Shipyard, Azersun, Caspian International Investment Company, Caspian Pharmed, Diamed and Hayat Pharm.


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