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Chemical enterprise put up for investment tender in Azerbaijan

Business Materials 2 September 2013 20:07 (UTC +04:00)

Azerbaijan, Baku, Sept. 2 /Trend E. Aliyev/

State Committee on Property Issues of Azerbaijan has announced an investment competition for the sale of 99.83 percent of shares of OJSC Sumqayit Superfosfat, a report published on August 31 in Mulkiyyat newspaper said.

The tender is open to Azerbaijani individuals and legal entities as well as to foreign investors, the report said.

Those willing to participate in the tender must submit an investment program, bank guarantee for five percent of the value of the investment proposals as well as proposals for inclusion of 1.5 million manats in the state budget. In order to confirm the seriousness, the applicant must submit a letter of guarantee of any bank in the amount of 500,000 manats.

The investment program should contain proposals for the establishment of export oriented production, restoration of existing equipment and purchase of new ones, expansion of the production range, restoration of job places.

As of July 1, 2013 the authorized capital of OJSC Sumqayit Superfosfat is 7.55 million manats, on which 3.77 million shares at par value of two manats for each share were issued. The tender's subject is 3,776,106 shares with total nominal value of 7.53 million manats.

As of July 1, the enterprise's account payable is 1.77 million manats. The number of employees of Sumqayit Superfosfat is 251 people.

Those wishing to take part in the tender may obtain further information and get acquainted with the privatization plan from 10:00 to 17:30 every day till October 1, 2013 at the address: Baku, Y.Safarov str., 20.

The documents and proposals are accepted from 10:00 to 17:30 till October 1, 2013.

The evaluation of the proposals by tender commission will be held at State Committee on property issues at 15:00, October 4, 2013.

The official exchange rate on September 2 is 0.7844 AZN/USD.

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