Sheki Energy Company Put for Competition for 5-year Management

Business Materials 27 October 2007 15:26 (UTC +04:00)

Azerbaijan, Baku / Trend corr I. Khalilova / The Azerbaijani State Committee on State Property Management announced a competition for management of Sheki Regional Energy Supply LLC for at least 5 years, the competition commission of the State Committee reported on 27 October.

Those who have staff potential and the opportunities to draw financial resources may apply for participation.

The applicants must submit an action plan including the directions and amounts of investments to provide consumers with reliable and high-quality energy. The action plan must also envisage the proposals on establishment of an up-to-date management structure, improvement of services to be offered to electric energy consumers, bringing the metering and registration system in accordance with modern standards (metre setup), optimization and modernization of the network in order to decrease technical losses, paying off of energy debts, provision of social security of the company's employees. Investment sources and the terms of drawing the investments must be also indicated. A bank guarantee for AZN 250,000 must be submitted to confirm the obligations on the contract.

Moreover, the applicants should submit an inquiry for taking part in the competition, a copy of founding documents, an act on the results of the recent year's audit, information on the activities and financial indices for the recent 3 years, a bank guarantee for AZN 25,000, information on professional indices and the experience of the senior staff. AZN 2,000 must be transferred to the State Committee's account.

Applicants may familiarize themselves with Sheki electricity network on 20 Y.Safarov Ave, Baku by 26 November 2007 from 10:00a.m to 5:00p.m local time. Tel: 490-24-08 (1-50). Proposals must be submitted by 27 November from 10:00a.m to 5:00p.m. Tel: 490-24-08 (2-65). The competition proposals will be assessed on 28 November 2007 at 11:00 a.m.

The electric network covers Sheki, Zagatala, Gakh, Balakan and Oguz regions.

The authorized capital of the enterprise made up AZN 1,827,362 by 1 October, 2007. The book cost of the enterprise is AZN 19,226,455, residual value - AZN 9,225,366, and the losses of 2006 - AZN 799,306.

The accounts receivable of the enterprise is AZN 54,436,464. Liabilities of the enterprise make up AZN 64,972,411, including the salary liabilities -AZN 366,227, trade and services liabilities - AZN 3,814,655, budget liabilities - AZN 2,345,834, liabilities to Azerenergy - AZN 58,445,695.

The total volume of the electric energy conveying through the enterprise makes up 348mln KW per hour. The number of its users is 104,343 - individual subscribers - 96,893, industry and construction entities - 1,589, non-industry entities - 311, budget organizations - 370, trade and service organizations - 5,180.

The enterprise employs 744.