12:41 - 14.12.2023

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December 14, Fineko/abc.az. The authorized capital of joint venture between SOCAR and the Sumgait Technology Park has almost doubled.

ABC.AZ reports that the authorized capital of SOCAR-STP LLC was increased from 10 million manats up to 19.69 million manats during the last operation.

This means additional capital investments in the amount of 9.69 million manats (97%).

Joint venture SOCAR-STP LLC was established in April 2020. The JV manages the production, which includes the largest mechanical equipment workshop in the CIS and a heavy crane plant.

Currently, 8.5% of the authorized capital belongs to SOCAR, and the remaining 91.5% to STP.