INVESTORS RELUCTANT TO PRIVATIZATION OF GAS PROCESSING FACILITY
Investors have presented no bid for the privatization of the Azerbaijan Gas Processing Plant since the announcement of the corresponding competition on June 20.
Slated for privatization is a total of 87.14 per cent of the share portfolio of the business, with the remaining 12.86 per cent of shares distributed among the staff.
вЂњIf no bid is submitted till July 21, it is planned to announce a repeated tender on the privatization (of the plant). On the whole, the facility will be handed over to a private owner by the end of the year,вЂќ a governmental source told Trend.
In accordance with the requirements of the ongoing tender, participants must submit a bank guarantee in the amount of one billion manats (212,800 U.S. dollars), with the winner to produce an additional 300,000 privatization options (vouchers) to the Ministry of Economic Development.
The evaluation of bids has been scheduled for July 25.