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Ernst & Young to start assessing investments put by Barmek Holding

Politics Materials 4 August 2006 19:32 (UTC +04:00)
Ernst & Young to start assessing investments put by Barmek Holding

From August 5, the assessing company official auditor of Azerbaijani Economic Development Ministry will start to asses the investments put by the Turkish Barmek Holding into Bakielektrikshebeke OSC and Sumgaitelektrikshebeke, Mikayil Jabbarov, the deputy economic development ministry and also the head of the commission for inspecting Barmeks fulfilling the contractual obligations, exclusively told Trend.

The selection of the assessor was carried out on base of agreement with Barmek

The decision to assess the investments was made by the inter-departmental commission for inspection of Barmeks fulfilling the contractual obligations signed with Azerbaijani Economic Development Ministry in 2001. He noted that the commission has completed the inspection in Baku electric set, but inspection in Sumgaitelektrikshebeke is still continuing.

The tasks of the international assessor include confirming the investment liabilities of the company.

According to the preliminary investigations, it was made clear that the company has allocated investments less than the currently stated amounts (only for Baku electric sets - $291 mln).

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