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Project setting up Electra and Hidroenergetica companies failed/ Economic ministry plans to privatize management for a quarter of the state companies

de A.C.
Luni, 18 aprilie 2011, 11:52 English | Top News

Economy ministry announced that it will start, this month, procedures to privatize management to a quarter of state owned companies, a press release of the ministry informs. The announcement comes shortly after unions of Hidroelectrica won the trial against the creation of the two energy giants, Electra and Hidroenergetica. The Bucharest Appelate Court ruled on April 14th against the government’s plans to set up the two giants.  

Economy minister Ion Ariton said that this is a measure that has been announced a long time ago. He said he is convinced that the privatization of the management will bring better economic results and will increase the trust of investors interested in major projects Romania has in the upcoming period. Romania’s Economy minister struggled for two years to reorganize the energy sector by setting up two giant companies. The project was initiated by former Economy minister, Adriean Videanu but the reorganization plans lead to a series of complains from the creditors and unions.

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