Areg Galstyan: Nationalization of “Electric Networks of Armenia” is not a solution

YEREVAN, SEPTEMBER 23, ARMENPRESS. The Ministry of Energy and Natural Resources of Armenia discussed the issue of nationalization of “ElectricNetworks ofArmenia” CJSC.

Deputy Minister of Energy and Natural Resources Areg Galstyan said the aforementioned during a policy seminartitled “The challenges of energy securityof the Republic of Armenia”.

“I think that even temporary nationalization of ENA (ElectricNetworks ofArmenia) is not a solution as in that case we deal with the problems of the general activity of ENA and the state cannot solve the problems connected with ENA activity better than the private owner. Of course, there’s also our fault in the problems emerging in ENA and maybe we could have prevented them in case we carried out a good monitoring in due time to reveal the shortages,” Areg Galstyan informed, adding that clear and strict demands must be set before the new owner of ENA to prevent such problems in the future.

“INTER RAO HoldingB.V” company applied to the Government of the Republic of Armenia with the intention of alienating 100% shares of “ElectricNetworks ofArmenia” CJSC owned by it to “Liormand Holdings Limited”. Republic of Armenia Government will study the contract of the sale in the near future.