The Construction Investment Corporation Accord on January 26 established another new company, which will build hydroelectric installations.
The office of LLC Accord Hydro-technical Construction Company is located in one of the corporate headquarters - 59 Teymur Aliyev Street? Baku. In the construction sector Accord is most involved in capital construction of roads, water supply and sewage systems, residential buildings. The corporation in 2014 also started the construction of the underground tunnels.
It is possible that the new company has other co-founders, including foreign ones. Since the summer of 2012, information on the founders and their equity participation in commercial legal entities in Azerbaijan is considered confidential.
Accord Corporation was established in 2005 and has subsidiaries and representative offices in six countries controlling stake in 8 local joint stock companies and more than 20 companies in Azerbaijan and other countries. Control of the corporation is carried out by the company VIP Estate. ---08D
Economics
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Russian delegates at the COP 29 climate summit have reaffirmed their commitment to upholding the principles of the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. The Russian Federation stressed the importance of adhering to the principle of "common but differentiated responsibilities," arguing that developed nations must continue to honor their commitments to climate finance, while allowing developing countries to contribute on a voluntary basis.
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The world faces a shortfall of up to $87 billion annually for climate adaptation efforts by 2030, according to Lord Livermore, Financial Secretary to the UK Treasury. Speaking at the panel discussion titled "Mobilizing for Climate Action: Countries, Multilateral Financial Organizations, and the Private Sector Implementing the Paris Agreement," Livermore highlighted the urgent need for increased investment in adaptation measures.
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In the first nine months of 2024, Azerbaijan’s alcohol and non-alcoholic beverage production totaled a mere $53 million, underscoring the dismal outcomes of the State Program for the Development of Winemaking (2018–2025). Despite being endorsed by the president in 2018, the program has delivered lackluster results despite formal state funding. In essence, the state intervention intended to foster growth in the industry has yielded minimal success.
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Azerbaijan and EIB Global, the European Investment Bank’s external branch, signed a Memorandum of Understanding (MoU) at the COP29 climate summit to modernize and expand the Baku metro network, officials said on Thursday.
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