Another 132 120 000 Manats for Construction of Administrative Building of Ministry of Taxes

The Ministry of Taxes signed an agreement with LLC Renaissance Construction Azerbaijan for the construction of a 31-storey administrative building, which will be located at the intersection of Heydar Aliyev Avenue with Muzaffar Narimanov Street in Baku.

According to the State Procurement Agency, the contract between the parties amounts to 132 million 121 thousand 681.9 manats.

Earlier, local media wrote that the new building, distinguished by its modern architectural design, will reach a height of 176 m.

It is noteworthy that this is the second in a row known social contract between the Ministry of Taxes and LLC Renaissance Construction Azerbaijan. Earlier this year, the Ministry reported that these parties signed a contract for the second phase of construction of a new administrative building of the Ministry of Taxes (http://goo.gl/ukUzKT). The contract is worth 18 million 499 thousand 719 manats. In 2013 the Ministry of Taxes signed the first contract with the company Aikon Cpit for this project worth 20 million 796 thousand 670 manats.

Ltd. Renaissance Construction Azerbaijan is a company of Synergy Group. It was founded in 2010 by LLC Synergy Construction together with REC Uluslararasi Insaat Yatirim Sanayi ve Ticaret A. S (a subsidiary of Renaissance Construction, part of Renaissance Holding, Ankara / Turkey). The equity participation of the parties in the new building company was divided equally. The authorized capital of the joint venture is $ 1.2 million. ----08B