Azerbaijan, Baku / Trend corr I. Khalilova / Azerbaijani State Committee on State Property Management has put 99.83% of the shares of Sumgayit Superfosfat OJSC for an investment competition. The assessment of the competition proposals will be held on the 20th of July. The applicants will be able to become familiar with the privatization plan and submit the applications by the 17th of July.
The package of proposals should include an investment program providing arrangements aimed at the organization of production in accordance with modern standards, introduction of new technologies for production of the products intended to be exported. The proposal should concern the transfer of AZN 1.5mln to the public budget and transmission of 100,000 privatization options to the State Committee. The applicants have to submit a letter of guarantee from any bank at AZN 500,000 in order to prove their sincerity.
The authorized capital of the Sumgayit Superfosfat made up AZN 7,545,000 for the 1st of June, 2007. The enterprise was put into operation in 1956. The number of employees comprises 540. The obligations of the OJSC account to AZN 1,241,000, with AZN 1,223,000 being debts for goods, services, and operation and AZN 0,179,000 being debts for salaries. The accounts receivables of the enterprise make up AZN 1,847,000.