THE PRESIDENT OF ARMENIA SIGNED THE LAW ABOUT PRIVATIZATION OF DISTRIBUTIVE POWER NETWORKS OF ARMENIA

14.08.2000, MEDIAMAX, YEREVAN. On August 12 the President of Armenia Robert Kocharian signed the law “About privatization of 4 distributive power networks of Armenia”, adopted by the National Assembly of Armenia, was reported to MEDIAMAX in the press office of the president.
On July 26 the National Assembly of Armenia adopted in the first reading the bill about the privatization of distributive power networks of the country. According to the minister of energy of Armenia Karen Galustian, four companies will participate in the tender for privatization of the distributive networks – the American “AES Silk Road”, the Swiss-Swedish “ABB”; the French “Electricite de France” and the Spanish “Union Fenosa”.
51 % of shares will get the strategic investor, 20 % – the European Bank of Reconstruction and Development, 20 % will remain as state property, 5 % will be sold at the exchange and 4 % will be distributed among the staff of the networks. –0–