Azerbaijan, Baku, 11 September / Trend corr. I.Khalilova /"State Committee on State Property Management (SCSPM) chooses two engineering plants for pre-privatization recovery," Rustam Shahbazov, the Deputy Chairman of SCSPM, said. The enterprises are Azerboru JSC and Baku electric casting plant.
"Azerboru is manufacturing export oriented production and Baku plant - turnstile for metro.
According to Shahbazov, the recovery of these enterprises will be carried out at the expenses of state funds or foreign borrowings. The Committee is ready to assist to attract foreign investments for pre-privatization recovery and restructure of state enterprises.
For this purpose, SCSPM held a meeting with privatized enterprises administrators with participation of international organizations -European Bank fro Reconstruction and Development (EBRD), German Development Bank KfW, International Financial Corporation, USAID, EU, German Technical Assistance Community GTZ and Asian Development Bank.
These arrangements are being held under the President's decree on 'Recovery and restructure rules of pre-privatization state enterprises' dating on 6 June 2006. For the first time the problems were discussed after ratification of the State Program to manage and maintain state property in 2006. However, the round table with participation of international financial institutes may cause avantage for enterprises. Particularly, EBRD demonstrated such interest at the previous meeting.
Some AZN 12.5mln was allocated from the State Budget to hold arrangements regarding privatization of state enterprises in 2008.
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