Invetsments worth 4 billion are needed to bring electric distribution netwoks in working order in Azerbaijan, Azerbaijani Energy Minister Natig Aliyev told journalists.
Speaking about the possbility of privatization in the energy sector, he added that auxiliary and service companies, but not the manufacturers could be privatized in the energy sector. He added that privatization of State Oil Company of Azerbaijan (SOCAR) is impossible as well.
“For the existing electric distribution networks to meet the the world standards, we need to invest $4 billion. In case of privatization, physical persons could hardly manage such investments, because only big companies could do that. For this reason it is early to speak about privatization of electric distribution companies and manufacturers. The auxiliary companies in the electric energy area could be privatized,” Aliyev said.—0—
Economics
-
The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
-
Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
-
Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
-
Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
Leave a review