In 2006, the State Committee for Management of the State Property of Azerbaijan privatized the shares of 15 joint-stock companies in the sphere of machine-building, communications, production of the construction materials processing of the agricultural products, etc., Trend reports with reference to the statement of the State Committee.
Oguz vine, Siyazan vine, Khanlar agroprom, Baku telegraph, etc. have been privatized through the investment competitions.
The winners of the competitions undertook obligations to restore and develop the production process in the enterprises, apply new technologies and render service meeting the international standards. $454 mln is expected to be allocated to carry out these measures, an increase of 49% from previous years. Of the intended investments, more than $16 mln have been allocated in 2006.
Out of all enterprises privatized this year, 75% is located in various regions of the country and this helps develop their social-economical situation and create conditions to direct the investments to the regions.
For the reported period, 6 JSCs have been given to the property of investors to fulfill their investment liabilities.
The statement also says that monitoring is continuing over the investors fulfilling the contract liabilities linked with the privatized enterprises.