BAKU, Azerbaijan, July 8
By Sadraddin Aghjayev - Trend:
The State Committee on Property Issues under the Ministry of Economy of Azerbaijan has announced an investment tender for the privatization of the Medical Equipment Repair Plant OJSC and the Baku Oil and Gas Equipment Plant, a source in the ministry told Trend.
According to the source, the tender was announced in accordance with the ‘Second State Program of Privatization of State Property in Azerbaijan’ and ‘Rules for Holding an Investment Tender’.
The source said that 922,528 shares totaling over 1.8 million manat ($1.06 million) will be sold at the investment tender for the privatization of the Medical Equipment Repair Plant OJSC located in the Bakikhanov settlement of the Sabunchu district of Baku. The enterprise has liabilities in the amount of 635,306 manat ($373,710) and receivables amounting to 273,925 manat ($161,130).
More than 1.4 million shares worth over 2.9 million manat ($1.7 million) will be sold at the investment tender for the privatization of the Baku Oil and Gas Equipment OJSC located in the Bulbula settlement of the Surakhani district of Baku. The enterprise has liabilities in the amount of 823,436 manat ($484,370) and receivables amounting to 62,971 manat ($37,040).
To participate in the tender, applicants must submit an investment program for a total amount of at least 2.5 million manat ($1.4 million) indicating the directions, amount and timing of investment, submit proposals for creating jobs, introducing modern technologies into the production process, expanding the range of products, using local raw materials.
Besides, the applicants must submit extracts on funds to be paid from the state budget (at least 1 million manat, or $590,000). In case of winning the tender, the applicant should pay an advance in the amount of 200,000 manat ($117,650).
The tender winners should also sign a purchase and sale agreement for shares of the joint-stock company within 30 days from the date of approval of the protocol on results, to make payments on wages and equivalent debts within 60 days from the date of signing, and to transfer the proposed funds to the state budget.
Along with legal entities and individuals of Azerbaijan, foreign investors can also take part in the tender.
Applications and proposals of the tender participants will be accepted on working days until July 26, 2021, from 10:00 (GMT +4) to 17:30 at the State Committee on Property Issues via: Y. Safarov st. 50, Baku city.
The evaluation of the proposals by the tender commission will be carried out on July 28, 2021.
(1 USD = 1.7 AZN on July 8)
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