According to the Second State Program on privatization of state property in the Republic of Azerbaijan and “Rules on implementation of investment tender” approved by the Presidential Decree No. 533 dated 17 July 2001, in order to ensure Order No. 2979 of the President of the Republic of Azerbaijan dated October 29, 2021 "On the privatization of some enterprises and objects on the balance sheet of the "Azerbaijan Industrial Corporation" Open Joint Stock Company", the State Service on Property Issues under the Ministry of Economy of the Republic of Azerbaijan announces investment tender for the sale of 100% state-owned shares of the "Garadagh Glass Factory" Open Joint Stock Company (hereinafter “the Company”).

Along with physical and legal entities of the Republic of Azerbaijan also foreign investors may participate in the tender.

At the completion of the tender, bidder with more favourable proposals on maximum amount of investment and its efficiency within the defined conditions will be preferred.

1. Information on Company

(As of 01 March 2026)

Legal address: Baku city, Garadagh district, Salyan highway, 23rd km, 8

Main activity of the Company: production of glass containers (bottles, jars, etc. of various sizes)

Share capital: 35 950 630 (thirty-five million nine hundred fifty thousand six hundred thirty) manats

Total number of shares: 17 975 315 (seventeen million nine hundred seventy-five thousand three hundred fifteen) pieces

Type of shares: ordinary, book-entry registered share

Bir səhmin nominal dəyəri: 2 (two) manats

Quantity of shares offered for sale at 17 975 315 (seventeen million nine hundred seventy- five thousand three hundred fifteen) units

investment tender:

Total nominal value of shares offered for 35 950 630 (thirty-five million nine hundred fifty

sale at investment tender: thousand six hundred thirty) manats

Characteristics of covered area

and buildings: characteristics of the buildings are indicated in the technical passport of the Company

Shares of joint company in other

enterprises: none

Intangible assets: none

Year of operation: 2008

The ecological condition of the

joint stock company: satisfactory

Number of employees: 8 people

Liabilities of the Company: 3 929 120 (three million nine hundred twenty-nine thousand one hundred twenty) manats

including,

- debts to the state budget 441 853 (four hundred forty-one thousand eight hundred fifty-three) manats

- SSPF, CHİF, UİF 817 186 (eight hundred seventeen thousand one hundred eighty-six) manats

- salary and equivalent debts 67 913 (sixty-seven thousand nine hundred thirteen) manats

- debts to state enterprises for goods, 1 269 882 (one million two hundred sixty-nine

works and services thousand eight hundred eighty-two) manats

- bank credits 21 265 (twenty-one thousand two hundred sixty-five) manats

- other debts 1 311 021 (one million three hundred eleven thousand twenty one) manats

Receivables: 183 380 (one hundred eighty-three thousand three hundred eighty) manats

2. Requirements and provisions for bidders

• Submitting an Investment Program in the amount not less than 10 000 000 (ten million) AZN indicating the investment trends, total amount and terms of investments reflecting the following issues for the purpose of development of the enterprises’s activities:
  • proposals for the restoration and reconstruction of existing buildings and facilities;
  • proposals for the repair of existing equipment and technologies, as well as the introduction of new equipment and technologies;
  • proposals for increasing the range and quality of the manufactured product;
  • proposals for increasing the sales volume and export potential of the enterprise;
  • proposals for renewal of infrastructure provision;
  • proposals for the creation of new jobs (not less than 200) and other social measures;
  • proposals for improving management and increasing its efficiency through the application of corporate management methods in Company;
  • a proposal for the amount of up to 5% of the proposed investment amount to be transferred to the account and its use.
• In the proposed Investment Program, the specific weight of investments to be made in equipment renewal and repair, as well as repair-construction and reconstruction-restoration works, should not be less than 65% of the total investments.
• Proposals on payment to be paid to the state budget for the purchase of the shares of Company not less than 18 000 000 (eighteen million) AZN (payments made in foreign currency should be converted into Azerbaijani manat in accordance with official exchange rate of the Central Bank of the Republic of Azerbaijan on the relevant date).

3. Documents to be submitted by bidders

Applicants must submit the following documents in order to participate in the competition:

3.1. Application for participation in the tender (in an open envelope).

3.2. . Receipt confirming the cash transfer of 2 000 000 (two million) AZN to the AZN deposit NO. AZ65 NABZ 0136 1150 0000 0000 4944 (code: 501004; correspondence account: AZ74 NABZ 0145 1700 0000 0000 1944; Tax ID: 9900071001; SWIFT bik: NABZAZ2C) of the State Committee on Property Issues of the Republic of Azerbaijan in the Central Bank of the Azerbaijan Republic confirming the seriousness of the bidder and warranting its compliance with the terms and conditions of the tender or the guarantee document in the same amount (bank guarantee, surety agreement, pledge agreement, etc). The amount paid by the winner will be considered during the fulfilment of Article 2.3, however payment and guarantee letters of losers will be returned.

3.3. If the bidder is a legal entity, the following documents shall be submitted in an open envelope:

- duly certified copy of charter;

- duly certified copy of the documents confirming the registration of the bidder as a legal entity;

- duly certified copy of the founding agreement and TIN, as well as the duly certified order on the appointment of the chief;

- information reflecting the bidders activity;

- information on existing activity in the Republic of Azerbaijan audited financial reports of the last three years (for foreign legal entities);

- confirming the payment provided for in paragraph 3.2 or one of the determined guarantee documents;

- list of submitted documents.

If the bidder is a phyisical entity, the following documents shall be submitted in an open envelope:

- duly certified copy of the identification card;

- information about bidder and business activity;

- information on the bidder's TIN;

- information on existing activity in the Republic of Azerbaijan (for foreign physical entities);

- confirming the payment provided for in paragraph 3.2 and one of the determined guarantee documents;

- list of submitted documents.

The following documents (legal and physical persons) shall be submitted in a secondly sealed separated envelope:

- Investment Program;

- Proposal on money to be paid to the state budget.

Documents in any foreign language should be submitted with their texts to be translated to Azerbaijani and be certified by the bidder. In case of discrepancy between the texts, Azerbaijani text shall prevail.

If any of the documents or information required to participate in the tender can be obtained from the relevant government agency through the Electronic Government Information System, those documents or information are not required from the bidders. In cases where it is not possible to obtain such documents or information through EGIS, their submission is required from the relevant state agency upon request with the consent of the bidders or is provided by the bidders. Such documents will be considered by the Tender Commission accordingly.

4. Requirements and provisions for tender winner

4.1. Tender winner should ensure the followings:

4.1.1. The signing of purchase and sale agreement of shares of Company during 30 (thirty) calendar days from the date of approval the protocol on the results of the tender;

4.1.2. From the signing date of the purchase and sale agreement of shares of company:

- the proposed funds shall be transferred to the state budget within the period agreed upon in the contract;

- settlement of the Company's debts to the state budget and extra-budgetary state funds within the period agreed upon in the contract;

- payment of 7,139 (seven thousand one hundred thirty-nine) manats (including VAT) to the consulting company involved in the implementation of this project within 30 (thirty) calendar days;

- transfer up to 5% of the total amount of the proposed investment, as determined by the Investment Program, to the settlement account of the Company in the form of cash within 60 (sixty) calendar days;

- creation of jobs in the number it will commit to, but not less than 200;

- fulfillment of other conditions and obligations specified in the contract, as well as the implementation of the investment in accordance with the direction, amount and stages specified in the Investment Program.

4.2. For review the Privatization plan (issue prospectus) of the Company, get acquainted with the Company and get additional information about the investment tender bidders can contact the following address on working days from from 10:00 till 17:30 until 14 April 2026 (including this day), 139 H.Aliyev avenue, Baku city, Nizami district, State Service on Property Issues under the Ministry of Economy, Room 1210 tel.:+994 12 311 01 60 (ext: 1314 and 1298), office@emlak.gov.az.

4.3. Acceptance of applications and proposals of the bidders will be held till the date of 15 April 2026 (including this day) from 10:00 till 17:30 in the following adress specified in paragraph 4.2.

4.4. Tender proposals will be assessed on 16 April 2026 starting from 15:00 at the administrative building of the State Service on Property Issues under the Ministry of Economy.