TODAY.AZ / Business

NRCR intends to participate in house-building in Azerbaijan

22 February 2006 [10:14] - TODAY.AZ
The National Reserve Corporation of Russia (NRCR) intends to participate in house-building projects in Azerbaijan.

As APA reports, negotiations were held with the government of Azerbaijan in this connection. The NRCR president Yuri Kudimov informed about it at press-conference held today in the Baku Business Centre.

Mr.Kudimov said that NRCR's a holding consisting of the Russian House Corporation and industrial enterprises. Mr.Kudimov noted that NRCR representatives' first visit to Azerbaijan had taken place in 2001-2002 and said that now they're able to present certain projects. According to the President of the Corporation, NRCR already participates in implementation of one house-building project in Azerbaijan.

The vice-president of the Russian Reserve Bank Eldar Abdullayev considers that their house-building project aims to provide low-income Azerbaijani families with houses, particularly refugee and IDP householders.

Mr.Kudimov added that the Corporation had established active cooperation with the International Bank of Azerbaijan and plans to further develop this cooperation. According to the NRCR President, the Corporation also intends to be engaged in exchanges of Azerbaijan and corresponding projects are currently reviewed.

Mr.Kudimov informed that if the National Reserve Corporation of Russia develops its activity to the banking sector in Azerbaijan, it can open an independent bank or obtain a share in any bank here. The vice-president of the Russian National Reserve Bank Pavel Vedniyakov stressed that they considered efficient to create business in Azerbaijan.


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