AIC investments in 2013 amounted to more than $ 60 million

Azerbaijan Investment Company (AIC) invested in 2013 to build the Baku Shipyard (BSZ) $ 60.6 million is the only attachment of last year .

The Ministry of Economy and Industry ( MEI ) has published a short report on the activities of AIC in 2013 . Investment activity was shown in only two of the few projects that involve state-owned companies. To date, the total amount of its investment in the construction of BSZ exceeded $ 118 million, including $ 40 million - capital investments of JSC BSZ and $ 78.07 million - its bonds. AIC owns 25 % equity interest in JSC BSZ, which also involves SOCAR (65%) and Keppel Corporation (10%). Total investment for the first phase of this project is $ 470 million, of which 34% are investments in shareholders equity.

Another project is the developing of Seba (former group of companies Shabran Broiler Factory). In 2013 JSC Seba made investments for growing crops on 4,800 hectares of new land areas. In this company, AIC has a 10% stake.

Neither MEI nor AIC provide information on the distribution of the investment portfolio, which has 160 million manats of public funds. AIC participates in the capital of Holcim (Azerbaijan) - 10 %, the company M-Pro - 20% , LLC Azertokhum - 17.46%, LLC Agstafa Agrotekhservis - 25% and JSC Caspian International Investment Company - 24.1% .

In 2012, AIC suddenly withdrew from two shareholders of JSC Azerbaijan Salt Production Association and Sangachal Terminal, in which it had a 25 % interest. The shares were sold to the existing shareholders. However, details of the transaction were not disclosed.

AIC is annually held international audit. The company does not publish financial statements on the corporate website, which is not updated. Therefore, w do not know how its assets are managed and if the acquired shares bring any dividends.

CJSC Azerbaijan Investment Company was established in 2006 to support the non-oil sector. - 08D-