State JSC Tamiz Shahar Worked at Loss in 2014

In 2014, revenues of the state JSC Tamiz Shahar decreased by 28.6%, making it once again unprofitable.

Over the past year the operating income of the company amounted to 11.5 million manats, which is 4.6 million manats less than in 2013, the financial report in the press said.

Since December 2012, JSC Tamiz Shahar has been operating a plant for the incineration of municipal solid waste. Probably, in 2014 indicators of the company for the production of electricity worsened.

On the payment of wages and social security contributions the company spent 4 million 349 thousand manats. This is 13.3% less than in 2013.

General and administrative expenses of the company in the past year fell from 4.4 million to 2.9 million manat.

In 2014 the losses amounted to 707 manats, while in the previous year there was a profit of 1.7 million manats.

The plant for the incineration of municipal solid waste was built on the territory of the Balakhani landfill and commissioned in December 2012. It cost the state 346 million Euros. The annual capacity of the plant is 231 500 000 KW / h of electricity.

OJSC Tamiz Shahar has been operating since March 2009 and is subordinated to the Ministry of Economy and Industry. --- 08D