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
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review