The Ministry of Economic Development announced an investment competition on sale of 98.4% of the Oguz Serab Joint Stock Company (JSC) shares. The reception of the documents and the bids will continue till 16 December, while their appraisal will start on 20 December at 10.20am.
Foreign and local investors can participate at the investment competition, where pretender with leading practice in production of juice, vegetables, tins, wines, as well as other alcoholic drinks, and proposed more investments will be preferred. The pretenders are due to transfer 5% of investments to the settlement account of the enterprise and 185 million manats ($40,200) to the public budget, present around 34,000 vouchers during 30 days from signing of the agreement. Besides, they are due to present banking guarantee, transfer 60 million manats to the account of the Ministry of Economic Development.
The Oguz Serab, located at 22.09 hectares in the Yagublu village, Oguz region, was put in exploitation in 1983. The statutory capital comprises 1.22 billion manats, while the financial liabilities of the enterprise make up 1.2 billion manats.