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BARMEK AZERBAIJAN INTENDS TO INVEST IN DEVELOPMENT OF ELECTRIC NETWORK IN BAKU OVER $19M

Oil&Gas Materials 27 July 2005 21:25 (UTC +04:00)

Barmek Azerbaijan, the operator of the energy distribution network in Baku and Sumgayit, intends to invest 89,499m manats (over $19m) in the development of the electric network of Baku in 2005, the Company told Trend.

It is 30.2m manats ($6.4m) more than said in the contract (50.2m manats ($10.7m), signed with the Azerbaijani government.

These funds will be directed to the construction of new substations, reconstruction of the existing energy objects, replace of electric transmission lines.

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