The Moldovan government intends to privatize RED Nord and FEE Nord to attract investments.
"We are seriously considering denationalizing them, privatizing them or creating a public-private partnership on the basis of these enterprises in order to attract investments in them on the one hand and to create a less corruption-prone environment on the other hand," Energy Minister Victor Parlicov told NordNews. "We realize that there are local and central political interests. Sometimes I am told that some of the tenders being held may be rigged. As a minister, I don't have time to deal with every purchase. Of course, I ask the question additionally subsequently, but fighting corruption is not the main function of a minister. There are other bodies for that," Victor Parlicov added. "What we want to do with RED Nord and FEE Nord is to prepare them for the process of denationalization or privatization to get good financing, good, fair price. And that means we will have to improve their efficiency. So far we have not reached the stage of changing the management of the companies," the Energy Minister emphasized. According to him, there was a much more serious emergency situation at Termoelectrica. "Unfortunately, it took us almost 3 months to finalize the management change we talked about. The issue of changes in the management of RED Nord and FEE Nord is not a priority, for now we are working on who can become potential investors," said Victor Parlicov. The sole shareholder of RED-Nord JSC (Balti municipality) is the state represented by the Public Property Agency. RED-Nord JSC is engaged in electricity distribution in the northern region of Moldova. Furnizarea Energiei Electrice Nord SA (FEE-Nord, Balti) was established by Government Decision of 15 April 2015 as a result of reorganization by splitting Reţelele Electrice de Distribuţie Nord SA and Reţelele Electrice de Distribuţie Nord-Vest SA. According to the company's statute, one of its main activities is the sale of electricity. The founder and the sole shareholder of FEE-Nord SA is the state represented by the Public Property Agency. // 04.08.2023 - InfoMarket.
