The winner of the investment competition on privatization of 99.34% of shares of Siyazan-Sharab JSC, announced by the State Committee on Governance of State Property, became Jahandar Company.
In accordance with the conditions of the competition, the investor will present 4,500 state vouchers and transfer 14,720 AZN to the settlement account of Siyazan-Sharab, Trend reports referring to a news release spread by the State Committee. Besides, the winner will transfer 16,000 AZN to the public budget during 30 days from signing of the contract on purchase and sale.
In accordance with the investment program of the Company, it is due to invest 194,400 AZN in the reconstruction of the enterprise during 12 months. The funds are envisaged for reconstruction of technical equipment, infrastructure, communications lines, as well as solution of social problems. Under the program, presented by the investor, it is due to open 30 new jobs at the preliminary stage.