Azerbaijan, Baku, 6 February / Trend / Presently, about 90% (218,000) subscribers of Sumgaitelectricshabaka OJSC (Sumgait Electricity Network) have counters. The company has 242,000 subscribers.
The State Committee on State Property Management passes the managing of Sumgait electricity network and Shaki regional energy distributing network CJSC to Azerbaijani Xazar Investment company. The company obligates to invest $85mln to Sumgait network and $11mln to Shaki regional network within five months.
However, the State Committee has previously denied the transference of management to the department and has toughened their demands. Under the new conditions, the contract will be signed for a five year term, not for 25 years. The contract may be prolonged for another five years term in the case of fulfillment of all obligations.
Another condition is that the network assets remain under the State management, but investors will manage them.
Investors have to provide uninterrupted electricity to the population, decrease power outages, and increase collection of money for energy consumed. The contract may be cancelled if the conditions of the contract are not met.
Before, the Turkish Barmek company managed the Sumgait electricity network. However, the contract with Barmek was cancelled and court proceedings were instituted against Husein Arabul, the company head, and several officials of the company.