Government will discuss fulfillment of commitments on investment program with Fondel Metal: Heydar Babayev
The Azerbaijan Ministry of Economic Development (MED) and the State Committee on State Property Management sent an invitation to Fondel Metal for discussing fulfillment of the companys commitments over the investment program, the Minister of Economic Development Heydar Babayev has said today, Trend reports.
According to him, the government continues the works on the contract, some clauses of which do not suit us. В"Some of the contractual conditions have been drawn up improperly and do not meet the interests of Azerbaijan, particularly, the clause stipulating return of earlier made investments in case of the contract canceling. The lawyers are currently working over these issues, Babayev said.
According to him, Fondel Metal has not fulfilled conditions on investments and in this regard MED wants to make clear the reasons for non-fulfillment of the investment program. В"We want Fondel Metal to explain us the situation and only thereafter the issue of the contract dissolution or the companys activities on the contract will be tackled, he noted.
According to Babayev, proposals from the Russian Aluminium company are currently under consideration. В"Preliminary meetings have been held and we assess positively their proposals to set up the Aluminium plant in Azerbaijan, the Minister noted. Visit of the companys technical delegation is expected shortly.
В"For the first time we want in practice to take a decision based on the commission to be established from various departments officials. There are some unclear moments in the Russian companys proposals which will be looked into during the delegations visit, he has been quoted as saying.
В"One should not link the start of negotiations with the Russian Aluminium with the situation in regard to Fondel Metal. The В"Russian Aluminium company is the universally known company and their arrival in Azerbaijan will contribute much to the countrys economy, the Minister thinks.