Auditor of investments allocated by Barmek was appointed

Oil&Gas Materials 2 August 2006 14:42 (UTC +04:00)

On august 1, the energy distributing company Barmek signed a protocol at the Economic Development Ministry of Azerbaijan regarding the beginning of the acceptance process of the distributing set and selection of the company the will hold the audit of the investments disbursed by the company, Trend reports with reference to Barmek.

The assessment of the disbursed investments will be realized by Ernst&Young. The period of the beginning of the acceptance process of the distributing set and the assessment of the investments that will be held in parallel should be defined by the ministry. The assessment of investments is held because the ministry considers that the amount of the put investments dont correspond to the volume of done works.

According to the information received from the company, the distributing sets will issued to Bakielektrikshebeke. Thus, the sets will be presented to the Ministry of Economic Development where it was signed a contract in 2001. However, it was stated by the company that at the moment, the chairmanship to Bakielektrikshebeke is realized by Huseyin Arabul the president of Barmek. He should take off his authorities and the ministry should appoint a new chairman for the beginning of the acceptance process.