Construction company privatized in Azerbaijan

The State Property Committee of Azerbaijan has announced an investment competition for sale of 99.1 per cent stake of Mugan Su Tikinti construction company, Mulkiyyet newspaper reported.

The competition is open to individuals and legal entities of Azerbaijan and foreign investors. Applicants must submit an investment program with proposals for the restoration of the company.

Applicants must also submit a bank guarantee for five percent of the value of the investment proposals, and proposals to pay 200,000 to the state budget.
Mugan Su Tikinti specializes in building and construction works, and is located in Sabirabad district.

The authorized capital amounted to 674.434 manat for February 1, 2012, which issued 337,217 shares at par value of 2 manat each. The object of the contest is 334,166 shares with total nominal value of 668.332 manat.

The company has debts amounting to 799,639 manat, including arrears of wages to 22.367 manat. Debts for raw materials, works and services amounted to 22,372 manat. Receivables of the enterprise are 804,611 manat.

Applicants can familiarize with the requirements of competition, privatization plan and get more information from 10:00 to 17:00 until April 4, 2012 at the address: Baku, st. Safarov, 20. Documents and proposals are accepted from 10:00 to 17:00 until April 4.

Proposals will be considered by a competitive commission in the building of the State Committee at 15:00 on April 6.


/Trend/