Tobacco processing plant to process hazelnuts

Baku/28.01.14/Turan : The State Committee on Property (SCP) announced the results of the investment competition for sale of 30 % stake in JSC Zaqatala-Tutun. Investors are required to invest AZN 450,000 in the company for 6 months.

According to the SCP, two contenders whose names were not disclosed took part in the contest. One of them ( individual) was declared the winner on December 20 . However, the results of the competition were announced just today.

Investments will focus on creating hazelnut processing workshop and exhibition and trade center of furniture, software company working capital , etc.

The Zagatala district is one of the leading regions in the production and processing of hazelnuts. It accounts for one-third ( 9,460 tons) of the hazelnut production in 2012 . In this area there are no less than 10 shops in the primary processing of hazelnuts. In general, according to the State Statistics Committee , in 2012 the Sheki - Zagatala economic region produced 23,854 tons of hazelnuts.

Recall that 70 % of shares of Zagatala-Tutun were sold in the first program of privatization of state property in 1998. The winner of the investment tender shall remit to the state budget 35 thousand manats for the acquired 141,029 shares with a par value of AZN 2 each . - 08D-

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