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Azerbaijan announces investment competition to privatize enterprise on construction-assembly services

Business Materials 30 July 2011 13:30
The Azerbaijani State Property Committee announced an investment competition to sell 65.81 percent of the shares in Tikinti Qurashdirma, rendering construction-assembly services, the State Property Committee said in Mulkiyyet official publication.
Azerbaijan announces investment competition to privatize enterprise on construction-assembly services

Azerbaijan, Baku, July 30 / Trend, N.Ismayilova /

The Azerbaijani State Property Committee announced an investment competition to sell 65.81 percent of the shares in Tikinti Qurashdirma, rendering construction-assembly services, the State Property Committee said in Mulkiyyet official publication.

The competition is open to Azerbaijani physical and legal entities and foreign investors. Applicants must submit an investment program with proposals to restore the enterprise's activity.

Applicants must also submit a bank guarantee for five percent of the cost of investment proposal, as well as offers to transfer 570,000 manat to the state budget.

Azerenerji Tikinti Qurashdirma, specializing in carrying out construction and assembly work, is located in the Sabail district of Baku.

As of July 1, 2011, the company's authorized capital is 1.446 million manat with 723,100 shares. The face value of each share is two manat. A total of 475,857 shares with a total face value of 951,700 manat have been put on tender.

The enterprise's liabilities hit 4.041 million manat, including debts to pay wages at 143,500, and debts to pay for raw materials, done work and rendered services at 3.9 million manat. The company's accounts receivable hit 3.154.

Applicants may learn more about the conditions at 20 Y. Safarov St. in Baku, at 10:00-17:00 until Sept.5, 2011. Documents and proposals must be submitted at 10:00-17:00 until Sept.5, 2011. The proposals will be considered by the Committee's contest commission from 11:00 Sept.7, 2011.

The official exchange rate is 0.7866 manat to $1 July 30.

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