11:42 - 17.04.2019

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April 17, Fineko/abc.az. Ferrotex LLC has become the winner of the investment competition conducted by the State Committee for Property Affairs on 15 February 2019 for the sale of shares of OJSC "Sabunchu Scientific & Production Association".

In accord with the terms of the competition, the winner undertakes to transfer AZN 2.8 million to the State Budget and make an investment contribution in the amount of AZN 10 million in the enterprise within the investment program. In addition, the company undertook to pay the debts of the enterprise to the State Budget and the State Social Protection Fund in the amount of about AZN 2 million, wages for about AZN 200,000 and debts equated to it, as well as to fulfill other socio-economic and environmental obligations.

It is planned to invest at least AZN 10 million a year of private investment in the enterprise, and 160 jobs are expected to be created as a result of the work performed.