TODAY.AZ / Business

"Bayva" leaves "Azerenergy" vast legacy of debts and 6,000 of its staff

08 December 2005 [18:40] - TODAY.AZ
While getting out of the business "BAYVA" Joint-Stock Company transfers its debtorst and its staff into posession of new owners of the electrical net - Ali Bayramli and Ganja electric distributor networks under the "Azerenergy" OJSC.

President of "BAYVA" Khagani Aliyev told that the capital invested by the company into development of the electric network of the regions will pass into hands of the state according to the contract.

More than 6 thousand employees of "BAYVA" will be transferred to the staff of "Azerenergy". K.Aliyev noted that there are serious problems in collection of bills for electric energy in the regions and for this reason, the company had been facing many troubles during the period of its activity.

Aliyev informed that "BAYVA" invested 43 milliard manats in the first year and 45 milliard manats in the second year of its activity in the electric network.



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