Azerbaijan is in no hurry to privatize the gas-refining factory

Oil&Gas Materials 14 April 2006 15:06 (UTC +04:00)

Due to the strategic importance of Azerbaijan Qaz Emali (Azerbaijan gas refining factory in Garadah), government is careful in privatizing it. It will be offered for privatization only in case if an effective investor will appear, chairman of the State committee on state property management, Kerem Hasanov told Trend.

The factory participated several times in the investment competition. 87, 14% of assets have been offered for privatization and the rest 12, 86 % are split among the staff. 15% of assets had to be split among the employees according to the existing procedure, though due to the high cost of assets only 12, 86% of them were purchased by the employees.

The factory has been put into exploitation in 1961. Its project capacity is 6, 5 billion m3 and 650.000 tons a year.