Sumgayit Tube Works secretly transferred to Baku Steel Company

The largest ironworks of Azerboru have been transferred under Baku Sleel Company (BSC).

In a press release the Executive Power of Sumgayit noted that the company was transferred to the state under the control of BSC at the end of 2012, and this step will introduce this new steel technology and increase the number of workers.

The right to transfer the management according to the approved in 2008, the head of state transfer rules and the state's share of state owned enterprises in the management of the State Committee on Property. But the committee did not report on the conclusion of the agreement with BSC on the transfer of its management of "Azerboru". Moreover at the end of last year, the Committee has announced a tender procedure for a financial advisor on the privatization of the company. The tender was to take place in January, but GKVI not informed the public about the results. The spokesperson for the state committee Gulu Khalilov said Turan not happening.

Recall that Turan reported on the control of Azerboru by BSC in September 2012. Then the state committee appointed Hasan Muradov, who simultaneously holds the presidency of the BSC, as chairman of the company.

In 2006, the British company Targol Investment, which had taken the investment obligations, lost over 97% of shares of Azerboru, which once again moved to the state. New investment competition since then has been conducted.

Recall that belonging to Baku Sleel Company is kept secret. The company privatized JSC Bakelektroqaynaq in 1998. The company also controls Baku Oxygen Company and Azertekrarqarametal. The media published reports on the raider seizure by BSC of several metallurgical enterprises in Baku. - 08B-