Ganja House-Building Plant Cannot Find Client
The State Committee on Property still hopes to sell through the investment competition 99.96 % of the shares of Gence Menzil Tikinti (Ganja House-Building Plant) created about 10 years ago. Over the past 4 years its creditor debts increased by 2.5 times.
Under the terms of the contest, the winner can change the profile of the company. In any case, the applicants are required to provide an investment program. Like four years ago, one of the requirements is to provide a proposal for the transfer to the state budget of 850 thousand manats. In 2008, this amount was AZN 1 million and a certain amount of vouchers.
In Ganja there is a variety of construction companies involved in housing and social construction. The reasons for the lack of a formal interest in the venture are not known.
* JSC Gence Menzil Tikinti has acted since 1979. It occupies 3.1 hectares of land. The company employs 4 people. Given the laid-off workers, the wage arrears exceed 64 thousand manats.
The authorized capital of JSC Gence Menzil Tikinti is 2 697 092.8 manat. As of October 1 of this year the commitment was 517.4 thousand manats and the accounts receivable were 248.9 thousand manats. -08D-
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