The Azerbaijani State Property Committee has announced an investment competition to sell 99,83 % of the shares of JSC Sumqayit Superfosfat, the chemical production enterprise, Trend reports. The competition is open to Azerbaijani physical and legal entities and foreign investors.
Applicants are to submit their investment programs with proposals to produce export-oriented products, introduce new technologies, produce goods in demand on the local market and restore the workplaces and social guarantees of the staff .
Sumqayit Superfosfat deals with the production of sulphate salts, granular superphosphate fertilizer, oleum and other chemicals. The company is located in the city of Sumgait.
The authorized capital of the enterprise is 7.545 million manats with 3,772,468 shares. The face value of each share is two manats. The subject of the competition is 3,766,106 shares with a total nominal value of 7.532 million manats.
The company's debt has hit 1.973 billion manats, including debts for wages at 56,779 manats.
Azerbaijan announces privatization of Sumgait chemical plant
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