The State Property Service (HSWI) in the Ministry of Economy announced on October 15 on the holding of an investment competition for the sale of 85% of the shares (8,640,732 pieces) of JSC “Azərtütün” (Azertethen). The winner of the competition will get 15% of the company’s shares (1 524,835 pieces), which remained from the parallel announced closed subscription among the members of the labor collective. It is reported by “Turan”.
Applicants need to provide the investment program in the enterprise for the production, drying and primary processing of tobacco in the north-western regions of the country at least 8 million manat. For the shares of the company, the total nominal value of 17.3 million manat, the HSVI requires at least 6.3 million manat. For submission of applications allocated a month.
Decree on the privatization of LLC “Ask Azərtütün” was signed by the President of Azerbaijan on April 16, 2021. In September of this year, it was transformed with an authorized capital of 20.3 million manat at OJSC Azərtütün.
In accordance with the Decree of the President of Azerbaijan dated December 4, 2017, the property of the private LLC “İntertobako” passed to the property of JSC Azerbaijan Industrial Corporation (APK), and on May 25, 2018, Ask Azərtütün LLC was registered.
The company is the owner of 266 modern drying chambers (Ronis (Bulgaria) and De Cloet (Italy)), warehouses, office buildings, 4-points for the production and processing of tobacco (Mactavish Evans equipment (USA) and Goddiolli Bellanti (Italy) ) and other necessary infrastructure in the Balacan, Zagatalsky, Gakh and Shekinsky districts, as well as a tobacco plant in the Zagatalsky district. In general, Ask Azərtütün, its enterprises and facilities there are 194 permanent jobs, and during the season 500-550 temporary workers were involved, “the APC reports. According to the data of G., at the enterprise 109 employees.
In 2018, the APC spent on the construction of a tobacco production and processing point in the Balacan area of about 1.8 million manat. APK hides from the public Financial reporting LLC “Ask Azərtütün” for 2018-2020.
According to HSWI, on October 1 of this year, the obligations of JSC “Azərtütün” exceed 1.6 million manat. From these funds, 0.9 million manat – bank loan.