Azerbaijan announces investment competition to privatize Baku air conditioner plant

The Azerbaijani State Property Committee announced an investment competition to sell 90.3% of the shares in the Baki Kondisioneri air conditioner plant.

Some 85% of the shares put up for sale fell to the standard investment package, while 5.3% remained after the preferential sale to the labor collective.

The competition is open to Azerbaijani physical and legal entities and foreign investors.

Applicants must submit an investment program with proposals to produce industrial and consumer air conditioners meeting international standards.

Applicants must also submit a bank guarantee for 5% in the amount of 300,000 manat, as well as offers to transfer 950,000 manat to the state budget.

Applicants may learn more about the conditions at 20 Y. Safarov St. in Baku from 10:00 a.m. to 5:00 p.m. on April 12. Documents and proposals must be submitted from 10:00 a.m. to 5:00 p.m. until April 12. The proposals will be considered from 3:00 p.m. on April 14.

Full information can be obtained from the committee at: 490-24- 08 (No. 242)
The enterprise is located at 10 A. Gaibov St. The plant has been operating since 1975.

As of Jan.1, the enterprise's authorized capital was 1.926 million manat with 963,030 shares. The face value of each share is 2 manat. A total of 869,616 shares with a total face value of 1.739 million manat have been put on tender.


/Trend/