Azeri Ministry of Economic Development talked to Russian Aluminum

Business Materials 27 June 2006 12:27 (UTC +04:00)

The Ministry of Economic Development led the next round of talks with Russian Aluminum that is going to erect a new aluminum plant in Azerbaijan at $1bn, Trend reports quoting Heydar Babayev, Azeri Minister of Economic Development.

В"They came, we talked and we are very glad we achieved mutual understanding on some issues. But they consider creation of own generating capacities, thats the point. We cannot give them any guarantees on tariffs for power after 10 years. They got to produce it themselves and the final production cost price shall be defined depending on products burned to obtain the energyВ", - Babayev said.

At the moment, RusAl is calculating the project payback, minister said.