Chemical enterprise sale investment contest announced in Azerbaijan
Azerbaijan, Baku, May 8 /Trend A.Hasanov/
The State Property Committee in Azerbaijan has announced an investment contest to sell a 97.78 percent stake of the Mingechevir Glass Fiber enterprise producing high quality fiberglass and other chemical products, a statement in the official press said today.
The contest is open to Azerbaijani physical and legal entities and foreign investors. 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 cost of the investment proposal, and proposal to pay 80,000 to the state budget.
The authorized capital amounted to 494,780 manat as of April 1, 2012, which issued 247,390 shares at par value of 2 manat each. The subject of the contest is 241,888 shares with total nominal value of 483,776 manat.
The company has debts amounting to 687,377 manat, including arrears of wages to 102,142 manat. Debts for raw materials, work and services amounted to 144,950 manat. Receivables of the enterprise are 137,139 manat.
Applicants can familiarize with the requirements of contest, privatization plan and get more information from 10:00 to 17:00 until June 18, 2012 at the address: room 810, st. Safarov, 20, Baku.
Documents and proposals are accepted from 10:00 to 17:00 until June
Telephone: (012) 490 24 08 (ext. 242).
The official exchange rate on May 8 is 0.7860 AZN/USD.