Communications Ministry invests 100bn manats in IT

ICT Materials 9 November 2005 13:00 (UTC +04:00)

From January to October 2005 the Azerbaijani Communications and Information Technologies Ministry invested 104,917bn manats in the telecommunications. The fund was mainly aimed at reconstruction of communication objects and construction of new telephone lines, the Ministry told Trend.

Aztelekom Production Association (PA) put up 48,782,1m manats, Baku Telephone Communication PA - 38,839,2m manats, Teleradio PA - 9,973,9m manats, Azerpocta State Venture - 3, 849bn manats over this period.

In 2005 the Ministry plans to invest 96.5bn manats in the telecommunications, render services for 670.1bn manats and transfer 100bn manats to the public budget.

According to the National Bank of Azerbaijan as of 9 November 2005 the official rate of dollar to manat comprised 4,597 AZM.