“Cabinet of Ministers considers investment proposals of Barmek Azerbaycan,” Husseyn Arabul

Oil&Gas Materials 26 December 2005 17:43 (UTC +04:00)

Barmek Azerbaycan, the operator of the energy distribution networks of Baku and Sumgayit, submitted its proposals to the Cabinet of Ministers on $150m investment in development of energy distribution networks from 2006 to 2007, Husseyn Arabul, the President of the Company, told Trend.

According to Arabul, the proposals are under consideration at the Cabinet of Ministers. “Everything will depend on the decision of the government. We need the government’s permission to implement the project. We intend to put this sum for 2 years instead of 10 years,” he added.

If the government grants permission, Barmek Azerbaycan will set to the implementation of the project for short time. The Company is ready to implement similar project in the technical view.

According to Arabul, the Company invested $60m in the development of the energy distribution networks of Baku and Sumgayit.