the State Committee for Property Affairs offered investors 94.46% of shares of Baki Yod, created on the basis of the Baku Iodine Plant (Sabunchu district).
These shares had been exhibited to investors, but interest in them was not shown.
Conditions for applicants remain unchanged. Applicants must submit an investment program that includes proposals to introduce new technologies, improve product quality, gradual increase in power, repair and restoration of buildings, increasing the range of products, creation of new jobs.
The applicants must submit a proposal to transfer to the state budget of 100 thousand manats. Winner must pay wage arrears totaling 82.5 thousand manat.
The proposals will be accepted until 3rd December.
The authorized capital of Baki Yod is 203,000 manat. The obligations as of 1 October 2012 were 206.2 thousand manat, and the accounts receivable were 164.4 thousand manat.
Baku Iodine Plant was put into operation in 1930. Today, the idle plant has only two workers. The enterprise territory a few years ago was cleared by the Ministry of Emergency Situations of radioactive waste.
Through investment competition, the Neftchala Iodine Plant was privatized by ISR Holding in 2007. - 08D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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