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AIC to invest in textile sector

08
May '08
Azerbaijan Investment Company (“AIC”) signed a Memorandum of Understanding with “MKT IK” LTD (“MKT”) on investment opportunities in cotton fabric, knitted fabric, weaving production, and financing the reconstruction of yarn production facility.

The Memorandum envisages increasing the charter capital of MKT through equity investments to be made by the Azerbaijan Investment Company, with the condition that AIC's stake will not be more than 25% of MKT's charter capital.

Under the Memorandum, the parties have agreed to collaborate on project valuation, financial statement preparation and in other relevant areas.

“Azerbaijan Investment Company” OJSC


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