State Committee on State Property Management Holds Competition for Sell of Stock of Siyazan Industrial Equipment OJSC
Azerbaijan, Baku / Trend / The State Committee of State Property Management has held an investment competition on the sell of stock of the Siyazan Industrial Equipment OJSC ( Siyesen Senaye Cihaz ).
The following tasks were put forward to the participants of the competition:
-production of high-quality products,
-standardization of the products in compliance with international levels,
-opening of new jobs,
-fulfilment of terms in the field of labour rights.
The winner of the competition will be defined by open votes.
In accordance with the terms, the investor should invest AZN 600,000 to production work within six months. Investments will be used for purchase and establishment of high-quality production of equipments, renewal of communication systems, and purchase of equipment for production of polypropylene pipes.
In compliance with the expectations of the competition, twenty-five jobs will be opened within the first six months, and thirty jobs will be opened later.
Moreover, the winner has to transfer AZN 70,000 to the public budget and to submit 10,000 of privatized options.