TODAY.AZ / Business

Azerkimya not shut down because of electricity cut-off

12 March 2007 [23:25] - TODAY.AZ
Azerbaijan's State-owned chemicals maker owes a great amount of electricity bill to Sumgait Electricity Networks and won't pay off despite regular warnings, the SEN spokesman Mubariz Zeynalov stated.

He told electricity supply to the company has not been cut off although it didn't pay.

"Some attribute the shutdown of Azerkimya to electricity cutoff. However, this is not true," he said.

Azerkimya and its all subsidiaries shut down indefinitely because of the high energy prices in the country.

The company had sold its products under the terms of agreements concluded before the price jump and all the products had become "loss leaders" after the energy prices increase effective January, APA reports.


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