Brick production plant put up for investment contest in Azerbaijan

Business Materials 22 September 2014 20:04 (UTC +04:00)

Baku, Azerbaijan, Sept. 22
By Azad Hasanli - Trend:

The Azerbaijani State Committee for Property Affairs has announced an investment contest for the sale of 30.01 percent of Imishli Brick enterprise's shares, Mulkiyyet newspaper published by the committee said Sept. 20.

The contest is open to physical and legal entities of Azerbaijan, as well as foreign investors, the statement said.

Those wishing to take part in the contest must submit an investment program, which includes proposals for the production of brick and / or other products, purchase and installation of necessary equipment after the signing of the agreement on purchase-sale of the company's shares, proposals for transferring a certain part of the amount of the total investments (up to five percent) to the company's account, as well as proposals for transferring 45,000 AZN to the state budget.

The applicant should submit a letter of guarantee from any bank in the amount of 15,000 AZN to confirm seriousness of intention.

One employee works there.

The plant was commissioned in 1990. It is engaged in manufacturing of bricks and building materials.

The authorized capital of the company is 439,894 AZN. Some 217,447 non-documentary registered shares with par value of 2 AZN each have been issued for that amount.

Around 65,266 shares of the company were put up for the investment contest.

The liabilities of the company hit 8,606 AZN, including debts in goods, operations and services worth 2,000 AZN.

Those wishing to participate in the contest may obtain further information and read the privatization plan daily from 10:00 a.m. to 5:30 p.m. (local time) until October 22, 2014 at the address: 50, Y.Safarov, Baku.

The bids will be assessed in the state committee's building by the contest commission at 3:00 p.m. (local time) on October 24.

The official exchange rate is 0,7844 AZN/USD on Sept. 22.