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Communications Ministry invests 125.3bn manats in IT

ICT Materials 7 December 2005 12:09

From January to November 2005 the Azerbaijani Communications and Information Technologies Ministry invested 125.1bn 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 62.9m manats, Baku Telephone Communication PA вЂ" 41.7m manats, Teleradio PA вЂ" 10.7m manats, Azerpocta State Venture вЂ" 5.6bn manats over this period.

According to the National Bank of Azerbaijan as of 7 December 2005 the official rate of dollar to manat comprised 4,593 AZM.

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.

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