Investment Competition for Tea-packing Factory

The State Committee on Property (SCP) put up for investment competition 99.94% of the shares of the Lankaran Chay-3 tea-packing factory in the village of Veravul in the Lankaran district. Shares worth 200,000 manats are offered for 70,000 manats. At the same time preserving the profile of the company is not required.

The tea factory was commissioned in 1982. The company is idle and has two employees. The financial liabilities amount to 23.5 thousand manats.

Contrary to the law, SCP does not provide information about the land area occupied by the enterprise and the characteristics of its buildings.

According to the II State Privatization Program, at least 25% of the shares should be brought to an investment contest. In accordance with the established practice, SCP offers investors all the shares, including the remainder of the sale of 15% of the shares offered to members of the workforce.

In JSC Lankaran Chay-3, members of the staff have acquired 65 units or 0.04% of its shares in a preferential way. ----08D