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.
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