Investors Encouraged to Jeyranbatan Concrete Plant

The State Committee for Property Affairs has put up for investment competition a 99.23% stake in JSC Ceyranbatan Demir Beton with a nominal value of more than 1 million manat, established on the basis of the Jeyranbatan concrete plant.

The conditions facing the contenders are not easy: the investment in the company must be not less than 2 million manat. The obligation to create new jobs should be not less than 50 people. The winner will transfer to the state budget at least 800 thousand manat. In addition, the debt on wages is to be repaid in two months. The consulting company will be paid about 3,000 manat.

The state does not require saving the profile of the company. The investor is required the creation of any production. Proposals will be considered by investors in the beginning of April.

The plant was built in 1965. It employs 12 people.

This is the third investment competition by the State Committee on Property Affairs this year. So far, since the beginning of a new stage of privatization in July 2016 no company in Azerbaijan has been privatized by this method of denationalization.     ------08D