BAKU, Azerbaijan, January 8. The first auction of the year was organized by the State Service for Property Issues under the Ministry of Economy, Trend reports via the service.
The auction resulted in the privatization of one company and 26 vehicles. In total, 129 property orders were received, with 29 of them being processed electronically. According to a statement from the State Service, the privatized company is the Bakı Beton Konstruksiyaları LLC.
The company, which is being sold for 6.1 million manat ($3.5 million), has a total construction area of 9,267 square meters and a land plot of 64,483 square meters. In addition to producing various grades of concrete, the company manufactures concrete and reinforced concrete pipes, curbs, reinforced concrete structures, gutters, slabs, blocks, and more.
The auction saw significant competition due to the high demand for the vehicles. For instance, a "Sobol" vehicle, with a starting price of 6,750 manat ($3,970), was sold for 10,000 manat ($5,880), while a "BMW 740 Li," initially priced at 11,250 manat ($6,600), fetched 15,000 manat ($8,800).
For a complete list of the properties available at auction, visit this link.
The next auctions for privatizing state property will take place on January 14, 28, and 30. The auctions will feature shares and vehicles from a joint-stock company.
Interested parties can view the properties for auction on the official websites www.emlak.gov.az and www.auksion.gov.az. Those wishing to participate must select the property no later than three banking days before the auction date, register, and pay a deposit of 10 percent of the initial auction price for state property.
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