Employees of "Azenco and STP not paid salary
About 8,000 employees of Azenco and Sumgait Technology Park (STP) can not receive a salary for January and February.
The companies belonging to the ruling family do not comment on the reasons for the financial problems.
One of the employees of Azenco, working on the construction of high-voltage power lines, told Turan they get miserable wages of 250 manat per month. In addition to the salary, they are charged 5 manat for travel per day.
"We can not raise their voice because everyone is afraid of losing his job," said the young man who refused to introduce himself.
A similar situation exists in the STP. Here, the average monthly wage is about 400 manat.
The Deputy Chief of the General Division of Azenco Mirza Mirzoev declined to identify the causes of the long delays in the payment of wages, who asked to contact the company in writing.
JSC Azenco is owned by Interenergy. In December 2009, it won a tender to sell 97.5 % stake of Azenco. STP is part of a single group of Azenco. Assets of Azenco in 2009 were estimated at $ 500 million. - 08B -
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review