Khazar Islands Complex (Yeni Sheher Complex), belonging to Avesta Concern LLC, was affiliated to Azerbaijan Industrial Corporation OJSC, Azerbaijan Industrial Corporation told ONA.
According to the Corporation, right of use over territory of 499,9573 ha land area (Yeni Sheher Complex) and its uncompleted buildings, which belong to Avesta Concern LLC, and situated in north-eastern part of Sahil settlement, Garadag district, Baku, was given to Azerbaijan Industrial Corporation OJSC under the decision of Delivery-Acceptance Act as a continuation of consecutive measures related to establishment and activity provision of Azerbaijan Insudtrial Corporation OJSC.
OJSC also stated that the name of the complex was changed to “Yeni Sahil”.
Involvement of local and foreign specialists is considered to technically and economically strengthen the Complex from a future development point of view. A decision on continuation of the project, its future progress perspectives, and search of investors, will be adopted after the final comment is given by specialists”, said AIC.