Armenian NA to consider nationalization of ENA on July 1 

ArmInfo. Prime Minister Nikol Pashinyan proposed to put up for sale (free subscription) the shares of Electric Networks of Armenia CJSC so that RA citizens would also  have the opportunity to buy them. The project for  of ENA is already ready, the issue will be considered at an extraordinary session of parliament on July 1.

, - he said on June 26 at a government meeting, thus ensuring a smooth transition to the topic of nationalization of Electric Networks of Armenia CJSC.

According to him, the issue was discussed at the political level with the board of the Civil Contract party, and then in parliament and the government. In cooperation with the government, the draft law has already been put into circulation and at an extraordinary session of the National Assembly .

As Pashinyan indicated, it is planned that the first necessary step will be the adoption of under state management, after which possible scenarios will be discussed in the direction of the full nationalization of the company, management reform and efficiency improvement.

He emphasized that the strategic goal of the government is also to ensure the possibility of free subscription (open subscription) for ESA shares so that not only corporations, but also citizens of Armenia can become co-owners of the company.

Meanwhile, as the Prime Minister noted, .

Pashinyan spoke about the need for the nationalization of the power grids immediately after the campaign against the president of the Tashir Group of Companies Samvel Karapetyan and his arrest. On June 18, the Prime Minister told journalists that the company's activities had led to an energy crisis in the country caused by frequent power outages. According to him, a month ago he instructed the responsible persons to sort out the situation around the grids. The company must either compensate the damage caused to the population, government  agencies and the private sector within a month, or be subject to  urgent nationalization.

The Tashir Group of Companies, headed by Samvel Karapetyan, acquired Electric Networks of Armenia CJSC from Inter RAO in September 2015. Earlier, Samvel Karapetyan noted that since 2016, when Tashir Group of Companies acquired ownership rights to Electric Networks of Armenia, a total of about $900 million has been invested, $680  million of which was for modernization and $200 million for the  creation of new capacities. Investments were made, including, at the expense of credit resources of international financial institutions, which led to the pledging of 100% of the shares of the CJSC.

Earlier, experts said that attempts to nationalize ESA would lead to capital outflow from Armenia, loss of investment attractiveness and a decrease in the country's sovereign credit rating.

As for the Zangezur Copper and Molybdenum Combine  (ZCMC), it is worth noting that on December 19, 2024, at a cabinet meeting, Pashinyan stated that the Armenian government plans to list its stake in this largest enterprise in Armenia (21.875% of shares or 1/5 of the plant's share) on the stock exchange and conduct an IPO. In this regard, Armenian Economy Minister Gevorg Papoyan said that consultations with the plant's management show that they are ready to work in this direction and intend to invite a German consulting company to increase the company's transparency, improve the corporate  governance system in order to eventually go public.