TODAY.AZ / Business

Caspian International Investment Company explores options of participating in 5 projects in Azerbaijan

22 April 2008 [14:50] - TODAY.AZ
A presentation of the Caspian International Investment Company will be held in summer, said Anar Akhundov, chief executive of Azerbaijan Investment Company.
He added that investors of the Persian Gulf region will also be invited to the presentation ceremony.

"We will not only deliver a presentation of the company but also projects to be financed by the company," he added.

According to him, the charter-members - Azerbaijan Investment Company and the Islamic Corporation for the Development of the Private Sector – are considering proposals to choose a chief executive director to the company among the candidates.

He said the company is now exploring options of taking part in 5 projects.

"All these projects are local and they cost $50 million in total. It depends on audit, research and analysis whether or not the company will participate in these projects," he noted.

Caspian International Investment Company, jointly established last year by Azerbaijan Investment Company (AIC) and the Islamic Corporation for the Development of the Private Sector, will operate on sharia.

By the decision passed by the Supervisory Board, Azerbaijan Investment Company will make $14 million equity investment in the 20% stake within two years.

/APA/
URL: http://www.today.az/news/business/44462.html

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