Construction company put up for investment tender in Azerbaijan

Azerbaijan, Baku, Oct. 29 /Trend, E. Aliyev/

The Azerbaijani State Property Committee has announced an investment tender for the sale of 98.71 percent of shares of Gence Menzil Tikinti company, a report published in Mulkiyyat newspaper said today.

The tender is open to Azerbaijani physical and legal entities, as well as 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 transferring 850,000 manat in the state budget. The applicant must submit a letter of guarantee of any bank to the amount of 350,000 manat to confirm the serious intention.

The investment program must contain the proposals for using new technologies, improving the quality of production, expanding the production range and restoring jobs.

As of Oct. 1, 2013 the authorized capital of Gence Menzil Tikinti is 2.697 million manat, on which 1.349 million shares at par value of two manat for each share were issued. The tender subject is 1,348,054 shares with a total nominal value of 2.696 million manat.

As of Oct. 1, the account payable is 517,425 manat, while accounts receivable - 248,950 manat. The number of employees is 4 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 until November 26, 2013 at the address: 20, Y.Safarov str., Baku.

The documents and proposals are accepted from 10:00 to 17:30 until November 26, 2013.

The evaluation of the proposals by tender commission will be held at State Committee on property issues at 15:00, November 28, 2013.

The official exchange rate is 0.7844 AZN/USD on Oct. 29.

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