BARMEK-AZERBAIJAN TO BUILD ELECTROMECHANICAL APPARATUS PLANT

21.08.2004 [21:58]
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Because of lack of electric apparatus production enterprises corresponding to international standards in the South Caucasus, Barmek Azerbaijan decided to establish a plant producing the electromechanical apparatuses.

In the privatization auction, the company is said to have privatized some buildings in Bina settlement and automobiles fleet of the public corporation “Bakielektroevtomat”. Barmek is about to launch a plant, which is going to produce electrical, gas and water meters. The plant is expected to roll out 1 million 500 thousand electrical and 500 thousand gas and water meters every year. The plant is understood to employ 400 workers initially but can increase the staff up to 1000 subject to production growth rates.

In the first two year, Barmek plans to invest $8 million to launch the technological center. Afterwards, the volume of investments will rise to $15 million.

According to Barmek representative, the meters priced at USD 30-100 will be sold to the population on 5-year credit.

BARMEK-AZERBAIJAN TO BUILD ELECTROMECHANICAL APPARATUS PLANT

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