The State Privatization Committee completed investment tender for sale of stock in Mingachevir Izolit JSC. The tender was awarded to Alpha-Line OOO, the Committee officials told Trend.
The investor is required to introduce an investment program that would reflect advanced technologies implementation for production of high-quality insulation materials, glass-fiber-reinforced plastic items and so. The program shall also provide expanding manufactured products range, its compliance to the up-to-date quality standards and opening new workplaces and raising employees welfare.
The companys program schedules investing 701k AZN within one year. These funds will be directed to extension and reconstruction of current capacities and their tailoring to meet world standards.
According to the contract signed with Alpha-Line OOO, it shall transfer 200k AZN to state budget within 60 calendar days and provide 15,000 privatization checks within 90 calendar days.
During the first period of investment activities it is planned to raise number of employees to 200, increase their salary and improve labor conditions.