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Iran to privatize 20 power plants

TEHRAN, Feb. 17 (Mehr News Agency) - Iranian deputy energy minister said twenty power plants will be privatized in the first half of the next Iranian year (to end September 20, 2010).

The Mehr News Agency quoted Mohammad Behzad as saying that six new power plants have been proposed to the Iranian Privatization Organization (IPO) and four other ones will be suggested by the end of the year (March 20, 2010) to be privatized.

"These ten plants alongside with the previous ten selected power plants will go public by the end of the second quarter of Iranian calendar year," he added.

Related Article: Iran power industry on the verge of collapse

Previously the IPO Managing Director Gholamreza Kord- Zangeneh has said that Iran will begin the initial public offering of two power plants by March 20 in line with a macro policy for the privatization of state-run organizations.

According to him the stocks of Khalij-e-Fars and Sahand power plants worth $1 billion will be transferred to the public after getting required approvals from the authorities.

According to Article 44 of the Iranian Constitution, the economy of Iran is to consist of three sectors: state, cooperative, and private. This article has been amended in 2004 to allow the privatization of the Iranian economy.

In 2007, Supreme Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei called on government officials to speed up the implementation of the policies outlined in the amendment to Article 44 of the Constitution, which calls for the privatization of state-run companies.

According to the Fourth Five-Year Socio-Economic Development Plan (2005-2010), the Iran Privatization Organization, affiliated to the Ministry of Economic Affairs and Finance, is responsible for setting prices and offering shares of state-run companies on the privatization list to the general public.

... Payvand News - 02/17/10 ... --

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