Construction enterprise put up for investment tender in Azerbaijan

Business Materials 23 December 2013 20:19 (UTC +04:00)

Baku, Azerbaijan, Dec. 23

By Emin Aliyev - Trend:

The Azerbaijani State Property Committee has announced an investment tender for the sale of 99.34 percent of shares in the Azersenayetikinti (an Azerbaijani industrial construction company), a report published in Mulkiyyat newspaper said on Monday.

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 proposal as well as a proposal for transferring 35,000 manat to the state budget. The applicant must submit a letter of guarantee of any bank to the amount of 12,000 manat or an equivalent amount in U.S. dollars at the exchange rate of the Central Bank of Azerbaijan to confirm earnestness.

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

As of Sept. 1, 2013, the authorized capital of the enterprise is 84,450 manat, of which 42,225 shares at a par value of two manat for each share were issued. The tender subject is 41,945 shares with a total nominal value of 83,890 manat.

As of Sept. 1, the account payable is 35,240 manat. The number of employees is 20 people.

Those wishing to take part in the tender may obtain further information and familiarize themselves with the privatization plan from 10:00 to 17:00 daily until Jan. 21, 2014 at the address: 20, Y.Safarov str., Baku.

Documents and proposals are being accepted from 10:00 to 17:00 until Jan. 21, 2014.

The tender commission will evaluate the proposals at the State Committee from 15:00, Jan. 23, 2014.

The official exchange rate is 0.7845 AZN/USD on Dec. 23.

Translated by NH
Edited by CN