Polton Wenyars LTD privatized Baku telegraph

Business Materials 22 June 2006 14:41 (UTC +04:00)

State Privatization Committee declared Polton Wenyars LTD the winner of investment tender on Baku Telegraph privatization. The Committee officials told Trend the purchase-sale agreement has been concluded as well.

According to the investment program announced, British investor agreed to invest $4mln during 4 years. These funds will be directed to purchase and install equipment, raise provided services to world standards, create high-level infrastructure, and perform social actions. Besides, installation of 3G CDMA WiFi network, as well as provision of dial-up, ADSL, triple apply and leased line services is anticipated. Alongside, creation of international phone traffic and information-computing center for ate processing is suggested.

In accordance with the tender conditions, Polton Wenyars LTD shall transfer 2.4mln manat to the state budget and pass 80k privatization checks and options to State Committee for repayment.

As a result of investments, 50 new workplaces will open. Social actions include raising employees salary, voluntary insurance a enterprises cost and so on.