ENA company nationalization plan ready - premier 

ArmInfo. The plan for the nationalization of Electric Networks of Armenia CJSC is ready. This was written by RA Prime Minister Nikol Pashinyan on his Facebook  account. 

"We will soon move on to the practical phase. The processes will be  carried out in accordance with the legislation of the Republic of  Armenia," the head of the Armenian government emphasized.

Pashinyan announced the need for the nationalization of the power  grids immediately after the campaign against the president of Tashir  Group and his arrest. On June 18, the RA 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 those responsible 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. A draft law on the nationalization of Electric  Networks of Armenia CJSC has already been submitted to the National  Assembly of the Republic of Armenia. It should be noted that 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 in 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. The investments were made, among other  things, through credit resources of international financial  institutions, which led to the pledging of 100% of the shares of the  CJSC.