List of 15 Companies to Be Privatized

The State Committee on Property has announced the list of 9 JSC for privatization. The office requires a consultant to determine the forms and methods of the privatization and the implementation of this process.

It is planned to offer shares of the following joint-stock companies: Sumqayit Tikinti Xidmet, Gence Menzil Tikinti, Azerenerjitikintiqurasdirma, Azerneqliyyyatyoltikinti, Ceyranbatan Demir Beton, Mugansutikinti, Celilabad-Serab, Celilabad-Serab-9, Sumqayit Superfosfat, Mingecevir Texniki Rezin, Mingecevir Regenerat, Mingecevir Suse Lifi, Baki Dezgahqayirma, Baki Elektroavtomat and Oguz Serab.

Note that except for the first of the enterprises, all the remaining companies had previously been exhibited at an investment tender. The last three (Mingecevir Texniki Rezin, Mingecevir Regenerat and Oguz Serab) have even been sold by this method, but later results of these competitions were canceled.

In two companies (Azerenerjitikintiqurasdirma and Azerneqliyyyatyoltikinti) the state controls a majority stake. According to available information, the administrative building of Azerneqliyyyatyoltikinti was demolished in connection with the expansion of the Baku seaside boulevard. However, its shareholders have not received the financial compensation owed.

The contests to identify a consultant will be held in early October. -----08D