The State Oil Fund (SOFAR) will not be the only source of funding for the project "Optics in every home," the Deputy Minister of Communications and High Technologies Elmir Velizadeh told the media.
According to him, the ministry is negotiating a syndicated loan from foreign sources of funding. Contractor of the project with an approximate cost of $ 500 million will be the Production Association Aztelecom, which intends to increase the number of users of services in regional telecommunication nodes. Objectives of the project are expansion of public access to information resources in the regions and infrastructure for e-services as well as improving the quality of services. The project also includes planned installation and commissioning of the new numbers and ports in Sumgait, Ganja, Absheron, Zagatala, Shamkir, Khachmaz, Goygol, Agdam, Barda, Tartar and 47 other districts of the country. The result will be the creation of a real technical possibility to increase the number of users of Internet services of Aztelecom by more than 60% and an increase in the volume of the services.
The principal corporate financial advisor of the project scheduled for completion by the end of 2015 is a company Infirpo Inc., which will attract foreign investment.
The ultimate goal of the project is provision of a speedy virtual resource in the range of 10-100 Mbit / s for the entire country and bringing the number of users of this segment to 85%, which will allow Azerbaijan to become one of the developed countries in the world on this index by 2017. --17D-
Economics
-
Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
-
U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
-
Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
-
Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
Leave a review