Turkish Holding seized in Azerbaijan

Pia.az agency reported that some sources say the Turkish DHT Holding which used to act in Azerbaijan for many years, and has made large investments in Azerbaijani economy, was seized and given to Azerbaijanis. New owners have already changed the Holding’s name, according to the reports.

The DHT Holding acted in Azerbaijan since 1990-s and was the first-ever Turkish company in Azerbaijan. Some companies, including Azeryem, Azertoxum, Azerargo и AST Inshaat-Socar-ASM were established on the basis of DHT Metal Company which started up in 1996. These companies operate in various spheres of economy, from construction works, farming, manufacturing and to collecting metal from the Caspian seabed and recycling,

Holding’s investments in economy of Azerbaijan are equal to more than $100 million.

According to reports, up to certain moment, Azerbaijan’s authorities were in good and friendly relations with holding’s owner Dakhystan Tournaly. It appears some problems to have been arisen between holding’s owner and the ruling regime that made the commercials hurry out of the country, leaving their property to Azerbaijanis, says the agency.