Azerbaijan Investment Company (AIC) was established by the Decree number 1395 of the President of the Republic of Azerbaijan On additional measures to promote investment activity” signed on March 30, 2006.
The main purpose of AIC is to support the development of the non-oil sector of the economy via termed equity injection along with local and foreign co-investors into the greenfield and brownfield projects on the territory of Azerbaijan.
Edict of the president of Azerbaijan Republic on extra actions upon promotion of investment activity
Key economic ministries and agencies of
the Republic of Azerbaijan are represented in the AIC’s Supervisory Board,
which is the supreme governing body of the Company. Supervisory Board also
serves as the Investment Committee and every investment decision has to be
approved by the Supervisory Board (links on profiles of SB members)
• Investments into commercially sound brownfield or greenfield projects in Azerbaijan;
• Investments in all sectors excluding oil and gas exploration, production and processing;
• Serve as passive minority investor;
• Compliance of financial and accounting reporting with IFRS or commitment to implementation thereof;
• Verification of financial reports by an independent auditor;
• Application of the best corporate governance practices, protection of rights of investors;
• AIC’s representation in the Supervisory Board (Board of Directors).
AIC also aims to become a “fund of funds”. Being a state owned equity fund, we can serve as the best investment partner for those who is willing to penetrate Azerbaijan market. AIC would like to invite potential co-investors to join AIC in establishing equity funds in order to benefit from investment opportunities presented by rapidly developing non-oil sector in Azerbaijan.
Subject to mutual agreement amongst shareholders, AIC may implement one of the following exit strategies:
• Divestment via capital markets;
• Sale to the strategic third-party investor;
• Sale to other existing shareholder(s).
---Portfolio Distribution
---Selected Projects
Sector: Industry
•Baku Shipyard Company LLC
Strategic co-investors: State Oil Company of the Republic of Azerbaijan (SOCAR), Keppel Offshore and Marine (Singapore)
Purpose of investment: Construction of the modern shipyard and ship repair facility on Caspian Sea in order to supply the demand of Azerbaijan and other countries on the Caspian Sea in new ships and large tankers
Shareholder structure:
Date of completion: Q3 2013
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• “Garadagh Cement” OJSC
Strategic co-investors: European Bank for Reconstruction and Development (EBRD), Holcim (Switzerland)
Purpose of investment: Construction of new modern kiln and enhancement of current infrastructure in order to increase the production capacity
Shareholder structure:
Date of completion: Q4 2011
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Sector: Agriculture
•Azertokhum LLC
Purpose of investment: Construction of the first modern seed processing plant and granary and cultivation of high reproductive, elite and super-elite seeds via advanced technologies
Shareholder structure:
Launched in October 2010
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• “Davachi Broiler” OJSC
Purpose of investment: Renovation and capacity increase of one of the largest poultry production farm in Azerbaijan
Shareholder structure:
The latest phase of the project was completed in Q3 2010
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Sector: Food processing
• Azerbaijan Salt Production Association CSC
Strategic co-investor: Azersun Holding LLC
Purpose of investment: Construction of the first modern salt processing plant to produce high quality iodized and refined salt
Shareholder structure:
Launched in July 2010
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• “Milk Pro” LLC
Strategic co-investor: European Bank for Reconstruction and Development (EBRD)
Purpose of investment: Construction of the modern milk processing plant, introduction of new dairy products
Shareholder structure:
Date of completion: Q4 2011
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Sector: Logistics
• Sangachal Terminal CSC
Strategic co-investor: Qafqaz Trans Service LLC
Purpose of investment: Construction of a new logistics terminal in Sangachal
Shareholder structure:
The first phase of the project completed in January 2011
Sector: Financial
•Caspian International Investment Company OJSC
Strategic co-investors: Islamic Development Bank (IDB), Islamic Corporation for the Development of the Private Sector (ICD)
Purpose of investment: Establishment of a joint equity fund based on Sharia principles for investments into non-oil sector of Azerbaijan economy together with IDB, ICD and prominent institutional investors from the Middle East
Launched in March 2008
Coming soon
Coming soon
