Today.Az » Business » Taxes Ministry freezes bank account of Baku Conditioner Factory
24 August 2006 [08:57] - Today.Az
Business plan on establishment of state-of-the-art production at Baku Conditioner Factory was submitted to the Government of Azerbaijan, Company's management board chief, Vagif Heydarov, stated.
"We signed agreements with Israeli companies last year. Totally, $6.5 bn is planned for the restoration of production. Israeli companies agree to pay $1.5mn of this amount," said Mr. Heydarov.
He said that this partially-operating factory owes AZN 3bn for 3 years because of use of lands and equipment. The Taxes Ministry therefore has frozen bank accounts of this factory.
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