Azernews.Az

By Rashid Shirinov

The Azerbaijani Dashkesan mountain-concentrating plant has been declared open for privatization .

President of Azerbaijan Ilham Aliyev signed a decree on July 13 on conducting measures on rehabilitation and restructuring of the metallurgical complex of the country. In an effort to accelerate economic reforms in Azerbaijan and attract investment in metallurgical complex, Daşkəsən Filizsaflaşdırma OJSC (the Dashkesan mountain-concentrating plant) is now declared open for privatization.

The plant, which has been a part of Azerbaijan Steel Production Complex by the presidential decree dated April 23, 2013, will be placed at the disposal of the State Committee on Property Issues.

The State Committee on Property Issues was instructed to facilitate the privatization of the OJSC through the sale of state-owned shares at an investment tender. Furthermore, the Committee is prescribed to involve a reputable consulting company in order to ensure more efficient conduct of the tender on terms that meet the strategic interests of Azerbaijan.

Foreign investors, along with the local ones, can participate in the privatization of the state-owned shares.

The Azerbaijani Cabinet of Ministers together with the State Committee on Property Issues and Azerbaijan Steel Production Complex were instructed to ensure the transfer of Dashkesan plant and its property at the disposal of the State Committee on Property Issues. All transfer and admission works should be finished within one month.

The Dashkesan mountain-concentrating plant operates on the basis of iron ore deposits of the Dashkesan region which are the largest in the whole Caucasus. The plant is located in a mountainous area on the Kashkarchay river, in 397 kilometers of Baku. The Dashkesan plant produces iron ore and its concentrate. The iron ore reserves of the plant-adjacent fields amount to 350 million tons.

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Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov

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