Azerbaijan’s private businesses to allocate RUB 1 billion for reconstructing Derbent facilities

Makhachkala, July 16, 2014. Azerbaijan’s "Ata Holding" private company shall build a few facilities in Derbent at their own expense following the agreement with Daghestan, reports Derbent mayor Imam Yaraliev. The investment will presumably amount to RUB 1 billion.

Following the Russian President Vladimir Putin’s decree, Derbent will celebrate its 2,000th anniversary in 2015. Private investors, Russian regions and big businesses are expected to contribute to organizing and funding the anniversary as support to the funds allocated from the federal and republican budgets. Azerbaijan was among the first to join in. The RUB 1 billion will finance reconstruction of Heydar Aliyev St. and Gendjavi Park, and building a large Olympic complex in the park.

Yaraliev said they have developed the draft projects to be done; now they are "snapping the facilities to the map". They are going to start building the sports complex soon. The facilities are expected to be finished in 8 months.