OREANDA-NEWS. December 31, 2010. Aztelekom, a company of the Ministry of Communications & Information Technologies of Azerbaijan, has invested 46 million manats in upgrade of the regional telephone network.

Aztelecom general director Mahammad Mammadov informs that 26 million manats out of overall investments they made was raised from internal sources and 20 million manats at the expense of loans.

"Next year we expect to invest approximately 50 million manats in the development of broadband Internet and multimedia services,” he said.

According to Mammadov, Aztelekom signed a 7-year contract with Iskratel for purchase of telecommunications equipment on credit.

"Under the credit facilities we have in mind the purchase of equipment on credit," Mammadov said.