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  • Updated 27.09.2021 11:21
  • Created 23.09.2021 13:10

Investment bidding winner for Medical Equipment Maintenance Plant OJSC announced

 

In accordance with the "II State Program of Privatization of State Property in the Republic of Azerbaijan" and "Rules on Implementation of Investment Bidding", the State Service for Property Issues under the Ministry of Economy continues efforts on the renewal and development of non-operating industrial enterprises.

On June 25, 2021, the State Service for Property Issues announced an investment bidding for the sale of 922 528 shares of Medical Equipment Maintenance Plant OJSC (located at 14 B.Bunyatov Street, Bakikhanov Settlement, Sabunchu district, Baku), which is 99.73% of its authorized capital. The Bidding Committee, which includes representatives of the relevant government agencies, has determined the financial, economic, investment and social conditions for potential bidders.

The prerequisites include investments in the enterprise, the restoration of jobs and the creation of new jobs, and the use of modern technologies in production.

On August 18, 2021, the Bidding Committee considered the proposals of the bidders. An individual Valiyev Adalat Javanshir was declared the winner of the investment bidding for the sale of shares of Medical Equipment Maintenance Plant OJSC by an open vote among the members of the Bidding Committee.

The winner of the tender will ensure the transfer of 1 million manat to the state budget in accordance with the terms of the sale and purchase agreement signed on September 15, 2021. The winning investor undertakes to implement an Investment Program for a total amount of 2,566,000 manats, pay the company's debts to the state budget, the State Social Protection Fund, as well as salaries and similar debts, as well as fulfill socio-economic obligations.

According to the Investment Program, the company plans to implement a project that is especially relevant in the context of the current COVID-19 pandemic, that is, to expand the production of oxygen in cylinders of different capacities. It needs the modernization of equipment for the production of oxygen, an oxygen plant and its cooling system, construction of a special water reservoir, including the purchase of gas cylinders, overhaul of existing equipment and machinery, restoration of an office building, workshops and other buildings, improvement of infrastructure, and landscaping

It is noteworthy that the winner plans to invest within 2 years and create more than 20 new jobs.

In addition to the production of industrial gases from the atmosphere, the plant will repair various medical equipment and machinery.

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