Barmek Azerbaijan company, which is involved in governing the energy networks of Baku and Sumgayit, will build a plant on the production of energy meters in the amount of $11m, Huseyn Arabul the President of Barmek told Trend.
"We have stated the construction work and invested in $3.5m. We will invest $11m, of which $9.5m will be directed at equipment. The construction will be complete within three years, and the plant will output products for $30m a year," Arabul noted.
Barmek plans to export 60% of energy meters to Turkey, Russia, Gerorgia and Central Asian countries.
Barmek, a Turkish company, is going to invest $50m in the development of energy system of Baku and Sumgayit in 2005-2008.
The funds were directed at the construction of new energy stations, the installation of energy meters in accommodations and industrial facilities, the construction of energy transmission lines out of Absheron.
Arabul said in 2004 the company invested $15m in energy network of Absheron peninsula and supplied 10.6bn KW in the residents of Baku and Sumgayit, while the collection comprised 90%.
Barmek, which governs the energy networks of Baku and Sumgayit within 25 years, has invested $60m in the development sinСЃe 2002.