Foundry put up for investment tender in Azerbaijan
Azerbaijan, Baku, Sept. 21 / Trend A. Akhundov /
The Azerbaijani State Property Committee has announced an investment tender for the sale of a 98.71 per cent stake of the Baki Elektriktokme Company, the Mulkiyyet newspaper published by the committee reported today.
The bidding is open to Azerbaijani physical and legal entities and foreign investors.
Applicants must submit an investment programme, a bank guarantee of five per cent of the value of the investment proposals and plans to transfer 900,000 manat to the state budget.
Each applicant must provide a letter of guarantee from any bank to the amount of 300,000 manat to ensure serious intention.
The investment programme must contain proposals of using new technologies, improving the quality of products, expanding the product range and restoring jobs.
As of Aug. 1, 2013, the authorised capital was 2.124 million manat. Around 1.062 million shares with a total nominal value of two manat each have been issued. The subject of the contest is 1.048.709 shares with a total nominal value of 2.097 million manat.
The accounts payable amounted to 2.79 million manat as of Aug. 1. The bills receivable hit 1.05 million manat. Some 146 people work there.
Applicants can obtain more information and a privatisation plan from 10:00 until 17.00 until October 21, 2013 at the following address: 20, Y. Safarov st., Baku. Documents and proposals are accepted from 10:00 to 17:00 until October 21, 2013.
Proposals will be reviewed by the contest commission the State Committee building on October 23 from 15:00.
The official exchange rate is 0,7844 AZN/USD on Sept. 21.