Mediamax news agency, Yerevan, in Russian
23 Sep 05
RUSSIAN ENERGY GIANT TO RUN ARMENIAN POWER NETWORKS
Yerevan, 23 September: The government of Armenia has decided to hand
over 100% of the shares of the closed-type joint-stock company
Electricity Networks of Armenia [ENA] to Russia’s Interenergo B.V.
company, a member of the Unified Energy System of Russia joint-stock
company, Armenian Energy Minister Armen Movsisyan said in Yerevan
today.
The minister stressed that the Unified Energy System of Russia is
taking all the commitments of the previous owner of ENA, [Britain’s]
Midland Resources Holding Ltd, Mediamax reports. Movsisyan said that
about two weeks ago, Midland Resources asked the Armenian government
to hand over 100% of the shares of the closed-type joint-stock
company Electricity Networks of Armenia to the Russian company.
The minister denied the assumptions that after completing the deal,
the Unified Energy System of Russia will become a monopolist on
Armenia’s energy market and noted that only 10% of power generation
in Armenia falls to the share of the Russian giant.
[Passage omitted: Details of the contract with Interenergo B.V.]