Azerbaijan seeks to privatize enterprise on construction-assembly services
Azerbaijan, Baku, Nov. 10 / Trend , N.Ismayilova /
The Azerbaijani State Property Committee announced an investment competition to sell 65.81 percent of the shares in Azerenerji Tikinti Qurashdirma, rendering construction-assembly services, the State Property Committee said in the Mulkiyyet official publication.
The competition is open to the 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 420,000 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 Oct.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 4.064 million manat, including debts to pay wages at 153,400, 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 am-5 pm until Dec.9, 2011. Documents and proposals must be submitted at 10 am-5 pm until Dec.9, 2011.
The proposals will be considered by the Committee's contest commission from 11 am Dec.13, 2011.
The official exchange rate is 0.7866 manat to $1 on Nov.10.