BAKU, Azerbaijan, March 7. A total of 85 percent of shares of Azerbaijan’s Garadagh glass plant will be put up for investment competition, Head of the Privatization Department of the State Service on Property Issues under the Azerbaijani Ministry of Economy Aziz Mirzoyev told reporters, Trend reports.
"Currently, a privatization commission has been set up, which is involved in preparing a draft investment competition and determining its amount and conditions. The remaining 15 percent of the plant's shares will be offered on preferential terms to its employees," he said.
Mirzoyev stressed that the competition would be announced following the completion of all procedures.
Meanwhile, the authorized capital of the plant reaches 35.95 million manat ($21.1 million).