Investors still do not take interests in Azerbaijan Gaz Emali JSC (the Azerbaijani gas refinery plant). Farhad aliyev, the Azerbaijani Minister for Economic Development, said that no appeal has been made thus far for the participation in the tender on privatization of the facility.
87.14% of the JSC’s stock was put for privatization. The rest 12.86% was distributed among the employees of the plant.
The deadline for tender bids is 21 July 2005, while the appraisal of the bids is scheduled for 25 July. The privatization will be held through investment competition. The participants should present a banking guarantee in the amount of 1bn mantas, while the winner will present 300,000 privatization shares to the Ministry of Economic Development.