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Caspian International Investment Company to double share capital

Caspian International Investment Company to double share capital

20 October 2009 15:53 (UTC +04:00)

Baku. Nijat Mustafayev - APA-ECONOMICS. Caspian International Investment Company (CIIC), owned by the Azerbaijan Investment Company (AIC) and Islamic Corporation for Development (ICD), will double its authorized capital by the yearend, said the CIIC Executive Director Togrul Kocharli.

According to him, the companyâ€™s capital was raised to 23 million manats from 3 million manats.

â€œBy the end of the year, we hope to double this figure to 55 million manatd,â€ he added.

He noted that the CIIC is currently participating in several agriculture, real estate, logistics related projects, and is considering another 10-15 projects which will also be joined by European and Middle East countries, and Russia.

The CIIC only finances Sharia-compliant projects.

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