On August 3 the Cabinet of Ministers adopted a decree defining Irrigation and Water Management of Azerbaijan as an agency procuring land for the state needs.
Purchase of land will be carried out in the framework of the project "Reconstruction of the irrigation system Samur-Absheron". It is noteworthy that many of the works on the construction of the canal that began in 2009 have been completed.
Until now, the project "Reconstruction of the irrigation system of the Samur-Absheron" paid the following compensation (http://www.oilfund.az/az_AZ/layiheler/samur-abseron-suvarma-sisteminin-qurulmasi.asp#sthash.O7jrW9rE.dpuf):
- Construction of reservoirs Tahtakorpu - 2.4 million manats;
- Relocation of residents from the territory covered in the construction strip - 1.5 million manats;
- Relocation of gas pipes - 20 million manats. The aim of this project is to create a source of water supply of Baku and Sumgait, and the production of 25 MW of electricity.
The project is financed by the State Oil Fund. As of 1 July 2015, under the contracts with contractors there was used 1 billion 196.1 million manats, including in the first half of this year - 46.5 million. manats. --08D-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review