TODAY.AZ / Business

Huseyn Arabul concerned over trial delay

19 September 2006 [14:06] - TODAY.AZ
Barmek is pleased with hand-over test with Economic Development Ministry, Barmek Azerbaijan Electricity LLC President Huseyn Arabul stated.

Expressing his satisfaction with counter hand-over test, he said both the Ministry and Barmek and foreign experts probe into the data, APA reports.

He said Ernst&Young which was invited on mutual consent of the Ministry and Barmek will finish auditing in a few days.

He said there can be problems in electricity supply of Sumgait and Baku because gas supply problems through lack of winter preparations.

Mentioning Barmek has invested USD 75mn in reconstruction of the electricity network during this period, Mr. Arabul said complete renovation of electric network of Baku and Sumgait including installation of electric meters requires some $500mn.

Arabul said they are looking forward to the answer of the International Center for the Settlement of Investment Disputes (ICSID), but the Azerbaijani courts don’t consider their appeals.

"Everybody knows the courts of Azerbaijan well. Consideration of our appeals are delayed while the claim of opposite party is met in some hours."

URL: http://www.today.az/news/business/30375.html

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