Azercell investments top $170m in 2011
Investments of cellular operator Azercell in Azerbaijan’s telecommunications sector in 2011 amounted to $170.2 million, the company's head of marketing, Ahmad Karimov, told journalists on Friday.
According to Karimov, the company's total investments throughout its activity have exceeded $1 billion.
Some $136.1 million has been transferred to Azerbaijan’s state budget in 2011. The total amount of funds transferred by the company to the state budget exceeded $1 billion, he said.
Azercell holds a 55-percent share in the Azerbaijani cellular communication market.
In late 2011, Karimov said, the company installed 669 new base stations, bringing their total number to 2,373.
The total number of Azercell subscribers exceeds 4.2 million in the country, which has a population of over 9 million.
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