Authorized Capital of CJSC Shahdag Tourism Center Raised by AZN 500 Million
2017 October 31 ( Tuesday ) 13:50:24
Baku / 31.10.17 / Turan: By the decision of the Cabinet of Ministers on October 27, the authorized capital of CJSC Shahdag Tourism Center was revised. The capital of the Shahdag summer-winter resort was invested over 500 million manat.
At the initiative of the Ministry of Culture and Tourism, the authorized capital of CJSC Shahdag Tourism Center was raised from AZN 37 million 777.4 thousand to AZN 546 million 775.7 thousand.
The CJSC was established in 2015 and is the state operator of the Shahdag ski resort. The creation of this resort cost the state budget about 1 billion US dollars. This year it published a financial report, according to which with incomes of 17 million 589.2 thousand manat it had losses of 4 million 336.7 thousand manat. -----08D--