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Some enterprises of Azerbaijan Industrial Corporation, facilities on its balance to be privatized

Politics Materials 29 October 2021 13:48
Some enterprises of Azerbaijan Industrial Corporation, facilities on its balance to be privatized

BAKU, Azerbaijan, Oct. 29

Trend:

President of the Republic of Azerbaijan Ilham Aliyev signed an order on the privatization of some enterprises of the Azerbaijan Industrial Corporation OJSC and facilities on its balance on October 29, Trend reports.

According to the order, the following enterprises of Azerbaijan Industrial Corporation OJSC (hereinafter referred to as the Company) and the objects on its balance sheet (hereinafter referred to as enterprises and facilities) are declared open for privatization:

- legal entities, the list of which is given below;

- property complexes and non-residential buildings (together with land plots), non-residential areas determined by the Ministry of Economy and agreed with the Company.

It was determined that decisions on the methods of privatization of enterprises and objects declared open for privatization, taking into account their peculiarities, are taken by the Ministry of Economy in accordance with paragraph 4.1 of the "II State Program for the Privatization of State Property in Azerbaijan" (hereinafter - the State Program), approved by the decree of the President of Azerbaijan No. 383 of 10 August 2020; both local and foreign investors are allowed to participate in the privatization.

The Ministry of Economy was instructed to carry out the privatization of enterprises and facilities in accordance with the State Program, in order to increase the attractiveness of enterprises and objects for investors, ensure their restructuring in the process of privatization (merger, division and reorganization in another effective form) with the involvement of consulting and appraisal companies, as well as submit proposals to the Cabinet of Ministers on restructuring and liquidation (freezing) of debts, resolve other issues arising from this order.

The company was instructed to preserve their management and property until the privatization of enterprises and facilities, as well as resolve issues arising from this order.

The Cabinet was instructed to resolve issues arising from this order.

The following enterprises and facilities were announced open for privatization:

ASK Şüşə LLC;

ASK Ayaqqabı Fabriki LLC;

Azəripək LLC;

ASK Tekstil LLC;

ASK Izolit LLC;

ASK Şəki SES LLC;

ASK Şəki Şərab LLC.

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