Azeralumini РђРћ may be passed to company with effective investment proposal head of State Privatization Committee

Business Materials 12 July 2006 17:52 (UTC +04:00)

В"In the event of strategic investors, Azeralumini РђРћ might get privatized. The government will work with the company to present the best investment proposalВ", reportedly said Kerem Gasanov, head of State Privatization Committee. The company will be selected on tender basis.

Earlier, the government broke up the relevant contract with Fondel Metall, which failed to meet investment requirements and invested $48mln instead of declared $202mln.

Gasanov said the second plant building with capacity 30k ton is being erected in Sumgayit. It is also planned to construct a new aluminum complex with capacity 100k ton a year.