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AES considers fighting $148 mln Kazakhstan fine

Wed May 14, 2008 7:50am EDT
 
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ALMATY, May 14 (Reuters) - U.S. power producer AES (AES.N: Quote, Profile, Research, Stock Buzz) could turn to an international arbitration court to challenge a $148 million fine slapped on it by a Kazakh court for suspected antitrust violations, the company said on Wednesday.

A court in Kazakhstan's commercial hub Almaty last month fined one of AES subsidiaries, Nurenergoservice, after a lawsuit filed by antitrust authorities.

"AES disagrees with the claims and the court ruling," AES spokesman Olzhas Bibanov told Reuters.

"We have an option of turning to an international arbitration and we think we might use it."

AES owns several large power plants and power distribution companies in energy-hungry Kazakhstan, Central Asia's largest economy and major oil producer. (Reporting by Tatiana Seroshtanova; Writing by Olzhas Auyezov; Editing by Jason Neely)

 

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