State water construction enterprise privatization terms postponed in Azerbaijan
Azerbaijan, Baku, April 16 / Trend A. Hasanov /
The Azerbaijani State Property Committee has extended the investment period for the sale of a 99.1 percent stake in the Mugan Su Tikinti company, the State Committee said today.
The applicants' bids were to be opened on April 8 but were postponed on May 8.
Azerbaijani physical and legal entities, as well as foreign investors may participate in the contest. Applicants must submit an investment program with proposals to restore the company's activity.
Applicants must also submit a bank guarantee for five percent of the value of the investment proposal and the proposals to transfer 200,000 manat to the state budget.
Mugan Su Tikinti specializes in construction work. It is located in Sabirabad region.
The authorized capital is 674.434 manat as of Feb. 1. About 337,217 shares at par value of 2 manat each were issued. The subject of the contest are 334,166 shares with the total nominal value of 668.332 manat.
The company has debts amounting to 799,639 manat, including the arrears on wages worth 22,367 manat. Debts for raw materials, work and services amounted to 22,372 manat. The enterprise's bill receivable is 804,611 manat.
The State Committee also extended the deadline for submission of documents and proposals by applicants from April 4 to May 4 (10:00 to 17:00).
The official exchange rate is 0,7860 AZN/USD on April 16.