Baku Iodine Plant Back on Investment Competition
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-
-
- Question-answer
- 30 October 2012 13:56
-
- Economics
- 30 October 2012 14:49
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review