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.

URL: http://www.today.az/news/business/29309.html

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