Investment competition announced for OJSC “Sumgait Compressors”

Investment competition announced for OJSC “Sumgait Compressors”
# 21 May 2007 09:56 (UTC +04:00)
Azerbaijan State Committee for Public Property Management has announced an investment competition to sell shares of Sumgait Compressors Open Joint Stock Company. Any local and foreign investors can take part in bidding.
The bidders should submit Investment Program aimed at reconstruction and modernization of the company to meet international standards, application of advanced technology and increase of grain procurement, improvement of employment opportunities and employees’ social security.
The bidders have to submit proposals envisioning AZN 800,000 payable to the state budget and not les than 30,000 vouchers (foreign investors have to submit privatization options in equivalent to vouchers).
The winner has to transfer 5% of the amount to the account of the joint stock company within 60 days.
The deadline for bidding is June 21 and bids will be considered from June 22. /APA-Economics/

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THE OPERATION IS BEING PERFORMED