Investment competition announced for OJSC Sumgait Compressors

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 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 May 14 and bids will be considered from May 16. APA-Economics