Armenia to place power grid under concession management

Armenia's Electricity Networks company, owned by Samvel Karapetyan's Tashir Group, will be placed under concession management, Prime Minister Nikol Pashinyan announced during a government meeting.

According to Armenian media, Pashinyan said the government had reached a conceptual decision regarding the country's electricity distribution network.

"We have made a conceptual decision regarding the electricity networks. It will become state property under trusted management," he said.

Pashinyan also stated that it may not be appropriate for industrial enterprises, including the Araratcement plant, to remain under full state ownership and management.

He said such enterprises should be privatized through transparent tenders, while the state should retain a shareholding and representation on their boards of directors.