BARMEK AZERBAIJAN PLANS TO INCREASE INVESTING FOR DEVELOPMENT OF ELECTRICAL NETWORKS OF BAKU AND SUMGAIYT
The Barmek Azerbaijan company (the operator of the electrical power distribution network of Baku and Sumgayit) plans in the current year to invest in the development of the electrical grids of Baku and Sumgaiyt, the volume of investments will exceed the figure stipulated in the contract with the government of Azerbaijan, the company's president Husseyn Arabul told Trend.
According to him, in accordance with the contract Barmek Azerbaijan is to invest 50,2 billion AZM ($10,9 million) in the development of the electrical lines of Baku.
"However, for 7 months we spent 58 billion AZM. The figure will grow even more till the year-end, as the projects for preparations to the winter season are implementedвЂќ, he noted.
The volume of investments of Barmek Azerbaijan till the year-end will make up around 90 billion AZM (over $20 million), which is for 30-40 billion AZM ($6,4 million) more of the amount stipulated in the contract.