Azerbaijan: Government wants to sell 60 percent of Ganja Mill

Baku / AZ. (gov) State Committee for Management of State Property of Azerbaijan has announced investment competition to sell 60,76 percent of Gence-Deyirman (Ganja Mill). The Committee says that local and foreign investors may participate in the competition.

Pretenders must submit proposals on cooperation with local farmers to purchase seed, to deliver new equipment, to repair the building and plants, to organize sale of blue-chip flour from hard wheat, to increase production, to solve ecologic problems, social welfare and employment. They are also to submit bank guarantee for five percent of investment proposal´s cost at least 250.000 AZN.

Exchange rate: According to the National Bank of Azerbaijan in October 2007 for one Manat (ISO code «AZN») folks get 0,8222 EUR or 1,1766 USD.

Besides that, they must submit proposals to transfer to the state budget 700.000 AZN and at least 20.000 privatization cheques (for foreigners also equal quantity of options).

Pretenders must submit information about enterprise´s activity, charter copy. They may study competition requirements and receive additional information from 10:00 till 18:00 November 19, 2007 at the address: Baku, 20, Y.Safarov Street. Documents and proposals will be submitted from 10:00 till 18:00 November 19. The proposals will be estimated on November 21, 2007, 10:30.

Announced contact phone: 490-24-08 (242).

Gence-Deyirman is located in Ganja at the address: Ganja, 93, 28th of May Street, at 7.57 ha area. It produces and sells flour, mixed fodder, bread and bakery products. The staff consists of 88 persons.

Share´s cost at face value is two AZN. OJSC charter capital is 3.436.988 AZN. 1.718.494 shares were issued at two AZN face value per share. The competition´s object is 1.044.110 shares with total cost 2.088.220 AZN.

The enterprise has debts for 2.913.927 AZN including debts with salary for 1.025 AZN, debts on goods, works and services for 1.336.418. At the same time notes payable are 1.816.849 AZN.