The Azerbaijani Cabinet has approved the charter and structure of the
joint-stock company Azercosmos. Its shares belong to the government,
Trend cites the Cabinet.
According to the charter, the main goal of the company is launching
Azerbaijani satellites, their management and exploitation. The company
will also provide Internet, TV, radio photography, navigation and
other services.
The charter capital will be 40 million manats, with each share worth a
notional value of 20 manats.
The executive authorities will consist of three people (a chairman and
two deputies). The chairman will be appointed by the president. The
Ministry of Communication and Information Technologies will appoint
the deputies.
