Baku, Fineko/abc.az. The State Committee for Property Affairs of Azerbaijan has announced a repeated investment competition for sale of 98.94% of shares of JSC Mingecevir Texniki Rezin (Migachevir Technical Rubber Plant).

The contest subject formed from standard package (85%) and the balance of shares after their subsidized sale t labour collective (13.94%).

Both domestic and foreign investors are allowed to the competition.

The investor is to submit a 5% bank guarantee of the investment offer cost that cannot be less than AZN 150,000. Besides, the investor should also present a proposal for transfer of AZN 450,000 to State Budget.

The competitor should submit an investment program (proposals for installation of necessary equipment), provide information about its activity and a copy of its Charter and get more information at 10 am – 5:30 pm until 5 September 2012 at the address: 20, Yu.Safarov Street, Baku. Documents and bids from the competitors are received at 10 am - 5:30 pm until 5 September 2012. The tender commission will start estimating the bids at 3 pm on 7 September 2012.

Mingecevir Texniki Rezin OJSC is situated in Mingachevir city (add: 15, Samukh Street). The plant produces and sells products from technical rubber.

Its charter capital is AZN 972,214 and 486,107 shares with face value of AZN 2 each were issued for it.

The competition subject is 480,957 shares with overall nominal value of AZN 961.914 million.

The enterprise has debts of AZN 1.03 million, including AZN 54,886 of debts on wages and AZN 978,499 of debts on goods, works, and services. The enterprise was owed for AZN 1.28 million. The plant has operated since 1971 with personnel of 43 employees.

The previous contest should have been finished in August 2011.

04.08.2012 10:57