Government evaluates ENA’s market value for potential nationalization
The Government of the Republic of Armenia is currently conducting an evaluation of the market value of the “Electric Networks of Armenia” (ENA) company. Prime Minister Nikol Pashinyan announced this during a briefing with journalists following a government session.
According to the Prime Minister, if the evaluation results show that the acquisition of the company is realistic for the state budget, ENA will be fully nationalized and handed over to the trust management of a company or a group of companies with high-level international professional experience.
Pashinyan noted that international partners, including leading companies in the energy sector, have been informed about the ongoing processes. At the same time, he emphasized that information is circulating regarding ENA’s financial situation and a potentially low market value.
In the Prime Minister’s assessment, ENA is currently effectively under state supervision, and the efficiency and transparency of the company’s operations have significantly increased. According to him, the scope of cooperation with various companies has also expanded. He further noted that all of this was previously limited by certain ties that were corrupt in nature. He informed that criminal cases have been initiated regarding the activities of that period.
It should be recalled that last year the Prime Minister stated that the government was discussing options for the nationalization of ENA and its transfer to concession management, as well as reprivatization by a reputable private company. Pashinyan has repeatedly emphasized that he considers the nationalization and concession management model preferable, while the option of involving a private investor will only be considered if necessary.