Baku / 05.10.17 / Turan: MIDA LLC under the State Agency for Housing Construction has signed an agreement with the company Mercury Inshaat for the construction of two residential buildings in the Yasamal residential complex. This is almost complete selection of companies for the construction of 29 social residential buildings in this residential complex.
The cost of the contract is 6 million 157.9 thousand manat. Mercury Inshaat LLC acts in this project in a consortium with the company Conco.
MIDA LLC also concluded the last contract for the construction of communications. Gas Oil Building Ltd. will lay all gas supply pipelines in the Yasamal residential complex.
Work in the Hovsan residential complex is still at the design level. A corresponding agreement was signed with the LLC Project Institute of the University of Architecture and Construction of Azerbaijan LLC. The cost of these works is estimated at 397,000 manat. ----08D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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