Economy bleeds in first quarter - Economics namibiansun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from namibiansun.com Daily Mail and Mail on Sunday newspapers.
Turkey’s electricity firm threatens power cut in Lebanon
A Lebanese prosecutor issued a decision last week to seize the barges and fine the firm after TV channel al-Jadeed reported corruption allegations tied to the power contract.
Wednesday 12/05/2021
A 2018 file photo shows the Karadeniz Powership Orhan Bey docked as a second floating power station waits off the coast at Jiyeh, south of Beirut, Lebanon. (AP)
BEIRUT Turkey’s Karadeniz, which supplies electricity to Lebanon from power barges, said on Tuesday Beirut must halt legal action to seize its vessels and sort out arrears or it will shut down supplies to the country that is mired in a financial crisis.
Turkey’s Karadeniz, which supplies electricity to Lebanon from power barges, said on Tuesday Beirut must halt legal action to seize its vessels and sort out arrears or it will shut down supplies to the country that is mired in a financial crisis.
A Lebanese prosecutor issued a decision last week to seize the barges and fine the firm after TV channel al-Jadeed reported corruption allegations tied to the power contract.
The firm denies the charges and said at the weekend it had not been paid for 18 months, a period coinciding with Lebanon’s financial crisis.
A spokesperson for Karpowership, a unit of Karadeniz that operates the floating plants, issued the demands after Lebanon’s finance ministry cited a politician saying the country could face “total darkness” if the company shut down supplies.
The Karpowership spokesperson said Lebanon must halt action by a prosecutor to seize the company s barges and must draw up a plan to settle arrears.
In a letter seen by Reuters that was sent to Lebanon s caretaker Prime Minister Hassan Diab on Monday, Karpowership referred to alarming and baseless accusations and threats of fines by the prosecutor, saying the action lacked legal due process. It also referred to the payment arrears.
But the company said its priority was to find a reasonable solution that allows us to continue providing Lebanon with much-needed, low-cost electricity .
The ministry said Karadeniz had threatened to disconnect supply amounting to about 400 megawatts (MW), saying this would reduce generation capacity to 900 MW, well below demand that by some past estimates is more than three times that level.
UPDATE 2-Turkish firm tells Lebanon to fix debts, end legal action or face power cut Reuters 2 days ago
(Adds letter sent to Lebanese prime minister, paragraphs 2, 9-10)
ISTANBUL/BEIRUT, May 11 (Reuters) - Turkey s Karadeniz, which supplies electricity to Lebanon from power barges, said on Tuesday Beirut must halt legal action to seize its vessels and sort out arrears or it will shut down supplies to the country that is mired in a financial crisis.
A Lebanese prosecutor issued a decision last week to seize the barges and fine the firm after TV channel al-Jadeed reported corruption allegations tied to the power contract.