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Azerbaijani Cabinet of Ministers approves charter and structure of Azerkosmos

ICT Materials 24 December 2010 13:29 (UTC +04:00)
The Azerbaijani Cabinet of Ministers has approved a charter and structure of the open joint stock company “Azerkosmos”, whose shares are owned by the state, the Cabinet of Ministers said on Friday.
Azerbaijani Cabinet of Ministers approves charter and structure of Azerkosmos

Azerbaijan, Baku, Dec.24 / Trend H. Valiyev /

The Azerbaijani Cabinet of Ministers has approved a charter and structure of the open joint stock company "Azerkosmos", whose shares are owned by the state, the Cabinet of Ministers said on Friday.

According to the charter, the main goal of the JSC will be conduction of works on launching the Azerbaijani satellite into orbit, its management and operation, as well as providing satellite communications services (Internet services, television and radio broadcasting, photographing, navigation services etc.).

The authorized capital of the JSC will amount to 40 million manat with par value of each share at 20 manat.

Executive staff of the JSC will consist of three persons (JSC chairman and two deputies). Chairman is appointed by the president, and the Communications and Information Technology Ministry received the right to appoint deputies.

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