“Azerbaijan Barmek Company has postponed the project on the construction of a new 110KV substation �Narimanov’ in the Yasamal district of Baku to 2006,” Husseyn Arabul, the President of the company told Trend.
The delay was linked with the budget of the company, which does not allow carrying out additional projects, he said. Barmek Azerbaijan spent $12bn on the development of the energy distribution network of Baku in 2005.
Arabul noted that the company would carry out the project at the expense of credits and it is currently conducting talks with the European bank of Reconstruction and Development.