Business

CONSTRUCTION OF STEAM GAS BLOCK COMPLETING

The construction of a steal and gas block in the 440 Mega Watt strong Shimal regional power station has been fulfilled to 70% to date, Azerenergy joint stock company said Monday.

The construction was launched in June of 2000 by Japanese Mitsui after winning a relevant tender. Main preparatory and mounting work has been done, with a staff of 736 people, including 476 national personnel.

Old installations in the new area of the station are being replaced with new ones meeting international standards. The construction of a new energy block has been over with generators, gas and steam turbines and auxiliary apparatuses installed. Two reservoirs have been built in the area for 10,000 cubic meters of condensate and 5,000 for reserve fuel.

The station will work on natural gas with reserve fuel being diesel. The plant will produce 79,000 cubic meters of gas an hour to its full capacity. The Garadagh-Digah-Shimal RPS pipeline is being laid to fuel the station.

Following the commissioning of the block, the station will use 260 grams of conditional fuel less than now, saving 440,000 tons of fuel a year.

The regional station is taking a range of measures to raise specialists for further.

Operation and necessary maintenance scheduled for July and August this year.

The station will be commissioned in November.

TURKISH EXPERTS HELPING AZERI ADMISSION TO WTO

Members of the coordination group set up in 1999 to help Azerbaijan's admission to the World Trade Organization met with the visiting Turkish experts at the Ministry of Economic Development Thursday. The Turkish delegation aims to expedite the country's acceptance to the organization.

Minister for economic development Farhad Aliyev told the meeting that the process for the admission started in June 1997, when Azerbaijan became a WTO observer. A memorandum was prepared on Azerbaijan's external commercial regime containing all aspects of foreign economic performance and forwarded to the WTO Secretariat in Geneva, Switzerland. In addition, Azerbaijan has responded to all questions from member states such as Japan, the US and the European Union.

Mr. Aliyev said that preparations were underway for Azerbaijan's admission to the WTO, a process that needs the help of Turkish experts. He recalled the US assistance totaling $1 million to Azerbaijan.

Participating in the meeting, Turkish ambassador to Azerbaijan Unal Cevikoz said Azerbaijan is forging high-level relations with international organizations following its independence and stressed the need for the WTO admission.

The parties held a broad exchange of views, casting light on some of the admission issues, the Ministry reported Thursday.

CASPIAN FISH TO LAUNCH TIN PRODUCTION

Caspian Fish, in operation since February 2001, has contributed $56 million to the development of fish industry and is expected to allot $60 million more, the company said Saturday.

It is planning to launch production of tinned fish, which will put Azerbaijan into the same output level with neighboring Iran and Russia.

INT'L ISO STANDARD PRESENTED

The international ISO 9000/14000 standard for enterprises in Azerbaijan was presented at the ISR Plaza Hotel of Baku Wednesday. The presentation was followed by a seminar on certification and consultation of enterprises for introduction of ISO standards. Attending the seminar were 26 local and foreign companies. ISO is a system of quality and ecology management. Organizing the seminar was Azeri ASPI and British Moody International, a relatively new business in Azerbaijan.

TOURISM BOOST IN FOCUS

A conference "Potentials of tourism in Azerbaijan" got underway in the Irshad Hotel of Baku Wednesday. The event was organized by the Azerbaijan Marketing Society. The conference centered on the problems with development of tourism in Azerbaijan and ways of achieving success in the area. Attending the gathering were representatives from tourism organizations, the Ministry of Culture, the Ministry of Economic Development, the State Administration Academy, Baku State University, the Economic University, and the Academy of Sciences of Azerbaijan. According to chairman of the Union for Development of Tourism Industry Sahib Hasanov, Azerbaijan is well beyond other small countries for its tourism. "In 2001, 6300 foreign tourists visited Azerbaijan, a country with all means for tourism, or 200 tourists below 2000", he said. In his words, state investments are urgent to revive the industry in Azerbaijan. 90% of travel agencies in Azerbaijan attend to organizing oversea journeys rather than luring tourists into the country. Conference participants will continue mulling prospects of mounting tourism trips to Absheron, drawing travel maps and demonstrating documentaries.

EBRD TO FUND AZERI RAILWAY

The European Bank of Reconstruction and Development (EBRD) is to launch the second program of funding to develop the railways of Azerbaijan shortly. The implementation of the program will largely depend on guarantee by the Azerbaijan government, a source from the EBRD Baku Office said Monday.

The bank allotted $20,200,000 for the development of the railway system in Azerbaijan in December of 1999.

BAKU BEVERAGES CO. LTD GETS INT'L QUALITY AWARD

The preparatory committee of the 30th European International Award "For quality" in cooperation with the "Office" publishing group and the Club of Trade Leaders has conferred Baku Beverages Co. Ltd the gold "For quality" medal. The letter sent to the company by the president of the club reads the award is gold this year on the occasion of its 30th anniversary.

The prize is conferred to companies of various industries and profiles shining with their production qualities or services over the last year. The award is expected to be presented in Paris on May 27.

Baku Beverages company has been operating in Azerbaijan since 1997, manufacturing ZamZam potable water. US made facilities have been installed in processing plants, securing high quality water.

AZERBAIJAN's FISH PRODUCTION TO BE HIKED

The construction of a new powerful enterprise to breed 15 million of young sturgeons will start soon, Minister for Ecology and Natural Resources Hussein Baghirov told a news conference. A contract has already been signed with Ferrostal and the construction company of Azerenergy, he said. The construction will be completed within 11 months.

According to him, fish growing enterprises in Azerbaijan are under supervision of the Ministry of Ecology and Natural Resources. Maintenance and repair work has been finished recently in one of the fisheries, while in a second overhaul is completing and in a third a draft of enhancing production capacities is being developed.

The minister hoped that Azerbaijan was able to supply the Caspian with as much fish as Iran and Russia do following the commissioning in Neftchala.

ROTA-BANK CLOSED

Rota-Bank, a local bank established in 1999, has made a decision to stop its operation due to the expected increase of charter capital limits of banks by $2.5 million set by the National Bank of Azerbaijan.

The bank is obliged to serve its clients before June 1 of this year.