Azerbaijan, Baku, July 17 / Trend I. Khalilova /
The Azerbaijani State Committee on Property has announced an investment competition for sale of 30.03 percent stake of Ganca-Qennadi Company (confectionery factory in Ganja, located in the western part of the country). This stake was never realized on the money auction.
Both local and foreign investors can participate in the contest.
Applicants must submit an investment program that includes proposals for the production of confectionery products and other industrial products, the acquisition and installation of related equipment.
Participants of the contest must submit a bank guarantee for five percent of the value of the investment proposals.
Applicants can familiarize with the privatization plan and get more information about the competition from 10.00 to 17.30 till August 17, 2010 at the address: Baku, st. Y. Safarov, 20. Documents and proposals are accepted from 10.00 to 17.30 till August 17, 2010. Evaluation of proposals will begin at 16.00 Aug. 19, 2010.
Ganca-Qennadi has operate since 1973.
As of June 1, 2010 the authorized capital of JSC is 5288.19 manat, which issued 2,644.095 shares of par value in two manat each. The subject of competition are 793,926 shares with total nominal value of 1587.852 manat.
The company has liabilities amounting to 860.964 manat. The company employs 114 people.
On July 17, the official exchange rate is 0.8036 manat to $1.