North Cyprus News | Online News for North Cyprus

Electricity supply crisis averted

Electricity supply crisis averted

September 19
11:47 2013

KIBTEK has been unable to buy further supplies of diesel fuel to resupply dwindling stocks at its power plant. There are now only two weeks worth of diesel left.

The sole supplier, TPIC in Turkey, has turned down requests for more fuel because of outstanding debts of US$ 22 million owed to them by KIBTEK.

Fortunately, the government has intervened and allowed KIBTEK to take out credit from two local banks to pay off its debts.

TPIC is now sending in a further shipment.

Meanwhile the whole governing board of KIBTEK has resigned and new appointments are expected to be announced next week.

 

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