Ergokon Ltd.

Ergokon Ltd. was a company registered in the British Virgin Islands.[796] In 2016, Arzu Aliyeva was a shareholder.[363] [364] [755]

The Organized Crime and Corruption Reporting Project (OCCRP) found that Ergokon was one of several owners of AAC, a construction materials plant in the Garadag district of Baku.[531] [805] The plant’s other owners included Ashraf Kamilov’s Synergy Group and Azerbaijani construction magnate Emin Nasibov.[531] The plant was funded in part by a 10 million manat ($12.8 million) loan from the Azerbaijani government.[531] It went on to become a lead supplier of building materials to major Azerbaijani construction projects, including many owned by the state.[531] The OCCRP found that the plant benefitted from a massive devaluation of the currency by the central bank in 2015.[531] It was struck off the register in May 2019.[796]