TODAY.AZ / Business

Azerbaijan Investment Company to invest for 20% equity stake in Milk-Pro LLC

30 March 2007 [23:40] - TODAY.AZ
The board meeting of Azerbaijan Investment Company has today passed a decision to invest $5.375mln for a 20% equity stake in Milk-Pro LLC, a dairy products and juices maker.

The AIC Deputy Chief Executive Officer Riad Gasimov told that the total amount of the equity investment project is $11mln, of which the rest will be provided by the European Bank for Reconstruction and Development.

The project is also aimed at expanding the capacity of Goychay Milk Factory and constructing a milk plant in Hovsan, APA reports.

The AIC and Milk-Pro LLC signed a memorandum of understanding in December 14, 2006.

The 100%-state-owned Azerbaijan Investment Company was established in March, 2006. Its authorized capital is AZN 90mln.

URL: http://www.today.az/news/business/38571.html

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