More than 30 foreign companies were invited to participate in the privatization of "ASK Textile".

More than 30 foreign companies were invited to participate in the privatization of "ASK Textile".
The State Service for Real Estate Affairs under the Ministry of Economy applied to more than 30 foreign companies to participate in the privatization of "ASK Textile" LLC.

Qazet.az reports that this was reported at the mediation organized by the State Service today at "ASK Tekstil" LLC.

"For the purpose of attracting influential strategic investors to the privatization of the enterprise, applications were addressed to foreign companies and detailed information about the enterprise was provided," the Service reports.

At present, works have been started with the participation of the consulting company in order to determine the authorized capital of the enterprise, as well as the market (investment) value.

Media representatives got acquainted with the enterprise's infrastructure, brief history of the enterprise, production areas, technological equipment, and the prospect of privatization of the enterprise were informed.

It was reported that by the Decree of the President of Azerbaijan dated October 29, 2021, a number of enterprises and facilities of "Azerbaijan Industrial Corporation" OJSC were opened for privatization, and one of them is "ASK Textile" LLC. In connection with the implementation of the order, the State Service of Real Estate Affairs started work on the preparation of the enterprise for privatization, analyzed the enterprise's activity in accordance with the existing legislation, organized inventory work, and investigated the possibilities of privatizing the enterprise through an investment competition.