Azerbaijan not to privatize energy production (UPDATE)

Economy Materials 1 February 2016 10:55 (UTC +04:00)

Details added (first version posted on 10:22)

Baku, Azerbaijan, Feb. 1

By Maksim Tsurkov - Trend:

Azerbaijan needs investments to bring the energy distribution network into operation, Azerbaijani Energy Minister Natig Aliyev told reporters Feb. 1.

Regarding the possibility of privatization of the energy sector, he said it's more likely that subsidiary and service companies, as well as enterprises, not the producing ones, may be privatized in this area.

"It is necessary to make $4 billion investment for the existing energy distribution network to meet international standards," he said. "In case of privatization, it is unlikely that individuals will be able to make such investment, so only large companies can do it."

"For this reason, it is early to talk about privatization of energy distribution companies and producers," Aliyev said. "At the same time, subsidiary companies in the power industry sphere can be privatized."


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