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.