Investor not found for glass factory for eight years

The government again put up for privatization the Mingachevir glass plant by investment competition. Previous attempts in the last 7-8 years have been futile.

For the competition is put all the available at the state share (97.78%) of JSC "Mingecevir Suse Lifi". In addition to the investment proposal to restore the production of glass and other chemical products, the investors need to transfer to the state budget of at least 300 000 manat, the competitive State Committee on Property (GKVI). Proposals will be accepted until March 28.

Note that the privatization of medium and large enterprises in Azerbaijan is almost frozen. The State Property Committee conducts investment competitions, most of which is a mere formality, as the conditions for the applicants do not change.

In competitions, not involved are foreign companies, as interest in the privatization process was dropped, perhaps, from the beginning of the 21st century. This may be explained by the fact that the English version of the information resource of the State Statistics Committee (www.emdk.gov.az) does not publish reports of investment tenders.

The authorized capital of "Mingecevir Suse Lifi" is about 0.5 million manat. The company's commitments as of January 1 are 693.2 thousand manats, and the accounts receivable are137.1 thousand manats. It employs 75 people. - 08D-