Yengibar Mammadov invests AZN 230 000 in a bakery in the town of Shirvan

Baku/14.02.14/Turan : State Committee on Property (GKVI) announced today the results of an investment competition for sale of 30% stake in a bakery in Shirvan . The investor must invest for reconstruction and development of the production of Roza-Chorek 230 000 AZN for 12 months.

According to GKVI , evaluation of proposals took place on 21-22 January . The competition was attended by the two contenders . The Commission preferred proposals of Yengibar Nusrat Oglu Mammadov , who also pledged to transfer to the state budget as a bonus 25 000 AZN for the purchased shares with a total nominal value of 146.4 thousand manats. Under the terms of the contest , Mammadov repay within 90 days of debts owed by employees totaling 7.1 thousand manats.

The investor plans to renovate and repair company , except where bread will also be launched production of soft drinks. During the period of implementation of the investment program will be opened 10 new jobs.

The bakery in Shirvan city was commissioned in 1987. GKVI does not provide information of its power , buildings and land area. Who owns the remaining 70 % of shares of Roza-Chorek is unknown.

According to the law on privatization of state property, for investment competitions may be offered 25 % stake in state-owned enterprises . 30 % of the shares of Roza-Cor?k were offered in one package for cash auctions before. - 08D -


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