Accord Corporation announced withdrawal of several companies from its structure. From 28 November they act as independent companies. Last year, the strategy was adopted to transform the corporation into a holding structure by separating individual production units from the company.
According to the Ministry of Taxes (Office for the registration of commercial entities) from the corporation Accord broke asphalt plants and enterprises for the production of metal structures. LLC Accord Asphalt and Accord Steel Construction Company were created. As a result, the authorized capital of JSC Industrial Construction Investment Corporation Accord decreased at 35,000 manat and now accounts for 74,112,500 manat.
LLC Accord Asphalt got 5 asphalt plants with a total capacity of over 1.6 million tons per year. One of them, with a capacity of 240 tons / hour was commissioned in September this year. The corporation also controls several companies in metal processing and production of various sorts of metal - more than 70,000 tons per year.
In early October of this year, the companies Accord Beton, Accord Prefabrik and Accord Mermer Qranit were formed. In the past year the corporation separated a cement plant in Gazakh, which created Ltd. Gazakh Cement Zavodu.
Accord Corporation was established in 2005 and has subsidiaries and representative offices in six countries controlling stake in 8 JSC and 16 local companies in Azerbaijan and other countries. Control of the corporation is carried out by the company VIP Estate. --08D--
Economics
-
The Agency for the Development of Small and Medium-Sized Businesses (KOBIA), in collaboration with the Ministries of Economy and Ecology and Natural Resources, organized a conference today in Baku focusing on the role of small and medium-sized enterprises (SMEs) in advancing the green economy.
-
Under the golden September sun, the Third Grape and Wine Festival took place in Shamakhi, in the village of Meysari on September 7-8, 2024, drawing wine enthusiasts and tourists alike to celebrate Azerbaijan’s ancient winemaking traditions. Organized by the State Agency for Tourism, the festival highlighted the country’s efforts to rejuvenate its viticulture industry, with a focus on boosting local production and expanding export opportunities.
-
Azerbaijan has spent over $1.6 billion on large-scale infrastructure projects, including the Crystal Hall for Eurovision, the Olympic Stadium in Baku, and the Shahdag ski resort. But according to Fikret Mamedov, a graduate of London Business School and director of Sage Solutions, this spending has not provided long-term benefits for the country’s economy.
-
The outcome of the 44-day Second Karabakh War in 2020 has significantly reshaped the ranking of foreign direct investment (FDI) into Azerbaijan's economy, economist Gubad Ibadoglu said in an article. Recent data show a notable rise in investments from Russia, Turkey, and China, particularly targeting the liberated territories. However, Western investments have remained limited, as barriers such as monopolies, a lack of judicial independence, and the government's classification of states as "friendly" or "unfriendly" have dampened interest.
Leave a review