Azerbaijan, Baku, Dec.18 / Trend, N.Ismayilova /
The Azerbaijani State Property Committee announced an investment competition to sell shares of cotton fiber manufacturer JSC Goychay Toxucu, the committee said.
A 30-percent share was put on sale. The competition is open to Azerbaijani physical and legal entities and foreign investors.
Applicants must submit an investment program with proposals on revival of the enterprise's activity, regardless of the profile, as well as repair of existing buildings.
Applicants must also submit a bank guarantee for 5 percent of the value of the investment proposal, as well as offers to transfer 160,000 manat to the state budget.
Goychay Toxucu, specialized in the production of cotton fiber, is located in the Goychay city.
The authorized capital of the enterprise is 3.245 million manat with 1.622.483 shares as of Dec.1. The face value of each share is two manat. A total of 486.803 shares with a total face value of 0.974 million manat have been put on tender.
The company's debts hit 263,245 manat, including debts for wages at 17,100 manat and goods and services at 246,150 manat. The enterprise was commissioned in 1987.
Applicants may learn more about the conditions at 20 Y. Safarov St. in Baku, at 10:00-17:30 until Jan.20, 2010. Documents and proposals must be submitted at 10:00-17:30 until Jan.20, 2011.
The proposals will be considered by the Committee's contest commission from 15:00 Jan.21, 2010.
The official exchange rate is 0.7987 manat to $1 Dec.18