News digest

ROMANIAN DELEGATION ATTENDING INDEPENDENCE CELEBRATIONS

A 4-people Romanian government delegation, led by the first deputy minister for trade Ion Shelaru, has arrived in Baku to attend festivities on the occasion of the 10th independence anniversary in Azerbaijan.

After taking part in the celebrations, the guests will meet with the vice-premier of the Azerbaijan government Abid Sharifov, first deputy foreign minister Mahmud Mammadguliyev, chairman of the Caspian Shipping Company Aydin Bashirov, director of the Azerbaijan Railways Ziya Mammadov to explore for prospects of cooperation within the framework of TRACECA program, according to a source from the Romanian embassy.

BAKU GRID TAKEOVER DEAL INITIALED

The Ministry for Economic Development and Turkish Barmek Holding have initialed an agreement on a long-term concession of the "Baku Power Grid" joint stock company. A Ministry source said Monday that the agreement would be forwarded to the President. After a corresponding presidential decree, the document will be signed and become effective. This is due to happen later this week or early next one.

Barmek Holding, second in the investment tender for the takeover of the grid, put forward more flexible requirements to the government than the winner of the tender, German Siemens. The Turkish company has agreed to invest $296.5 million in the JSC over 25 years.

NEW TURKISH AMBASSADOR DUE SHORTLY

The newly-appointed Turkish ambassador to Azerbaijan Unal Cevik is due to arrive in Baku on November, according to a diplomatic source. Until recently, Mr. Cevik was leading Turkish Foreign Ministry's department for South Caucasus countries.

The previous ambassador Gadri Ecvet Tezcan will leave Azerbaijan at the end of October.

KAMAZ TRUCKS TO BE ASSEMBLED IN GANJA

A delegation of Russia's truck producing company KAMAZ is currently in Baku. On Thursday it met with the Minister for Economic Development Farhad Aliyev to explore the possibility of assembling the famous trucks in Ganja. This was announced Friday by the co-chairman of the Azeri-Russian inter-governmental economic commission Abbas Abbasov.

According to him, talks are also underway on financing the reconstruction of the Ganja automobile plant by Russian "VneshEconomBank", as director of the bank Andrey Kostin is epxected to visit Baku in November. Mr. Abbasov then added that after being reconstructed the plant will be capable of assembling 500-1,500 trucks a year.

Earlier, French "Renault" and Iran "Saipa" were also taking interest in the Ganja works, but the negotiations didn't yield fruit.