MKT Istehsalat Kommersiya buys 30.07% stake of Sumgait Khovlu Implik

MKT Istehsalat Kommersiya buys 30.07% stake of Sumgait Khovlu Implik
# 23 January 2007 12:26 (UTC +04:00)
MKT Istehsalat Kommersiya LLC has won a tender on sell-off of a 30.07% shares package of Sumgait Khovli Iplik Open Join Stock Company.
As per the agreement, MKT Istehsalat Kommersiya LLC shall invest $2.6m in the company within a year to enlarge and bring production fields to world standards.
After 30 days from the agreement conclusion date, the investor has to transfer AZN 112,000 to the State Budget.
It will employ at least 300 people, provide meal once a day and vehicle for employees. /APA/
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THE OPERATION IS BEING PERFORMED