Dashkesan Mining Plant Put up for Privatization Again

President Ilham Aliyev signed on July 13 a decree "On the implementation of measures for the improvement and restructuring of the metallurgical complex of Azerbaijan," according to which the Dashkesan Mining Processing Plant is offered for privatization for the third time.

The company is derived from the structure of the state CJSC Azerbaijani Steel Production Complex and placed at the disposal of the State Committee for Property Affairs. The process of acceptance should be completed within one month.

The enterprise privatization will be carried out by the investment competition. Influential consulting firms will be involved. The privatization will also allow foreign investors.

The state controls about 97% of the shares of Daskesan Filizsaflasdirma. The remaining 3% of the shares are owned by members of the plant’s staff.

In 2003-2008 JSC Daskesan Filizsaflasdirma was twice exhibited at an investment tender. The agreements with the state on the sale of its shares were canceled by the court later.

CJSC Azerbaijani Steel Production Complex was established in April 2013. Its assets included only one entity - JSC Daskesan Filizsaflasdirma.   ------08D