Azernews.Az

The Azerbaijani State Property Committee has announced an investment contest for the sale of 94.46 per cent stake of the Bakı Yod Company's shares, the Mulkiyyet newspaper published by the committee reports on Tuesday.

The company has been operating since 1930. It is engaged in iodine production.

The contest is open to private and commercial bodies of Azerbaijan and foreign investors.
Those wishing to participate in the contest must submit an investment program that includes proposals to restore the enterprise's activity.

Applicants must also submit a bank guarantee of five per cent of the value of the investment proposal and plans to transfer 100,000 manat to the state budget.

Each applicant must provide a letter of guarantee of any bank to the amount of 30,000 manat to ensure serious intention.

The enterprise authorised capital is 202,968 manat as of Oct. 1.

The enterprise has debts amounting to 206,195 manat. Debts for work, raw materials and services amounted to 123,657 manat, arrears of wages stand at 82,538 manat.

Applicants can review the requirements of the contest, privatisation plans and get more information between10am until17.30pm up till Dec.3 at the address: Baku, st. Y. Safarov, 20. Documents and proposals are accepted till Dec. 3.

Proposals will be reviewed by the contest commission at the building of the State Committee on Dec. 5.