The deal

Published: 3 August 2000 y., Thursday
The government last month agreed to sell a 49 percent stake in the two power stations to the Minnesota-based NRG Energy for 55 million dollars and 361 million more in investment to revamp the Soviet-built utilities. The state-owned Estonian Energy would retain a 51 percent share of the installations, which burn oil shale to produce some 95 percent of Estonia's electricity. Negotiators for the government and NRG say they hope they'll be able to sign a final agreement next month; it would also need to be approved by parliament. But the NRG deal has angered opposition parties and also many local business leaders who say the desire to cozy up to the United States for national security reasons has led the government to accept unfavorable economic terms. In one of the largest rallies in Estonia in recent years, some 1500 people denounced the deal outside parliament Tuesday, saying it forfeit Estonian sovereignty. Opposition deputies on July 25 also returned from their summer recess to try to force through a special session of the 101-seat Riigikogu parliament to debate the sale, but they fell four seats short of the 51 necessary for a quorum.
Šaltinis: Weekly Crier
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

EU to hold top-level discussion on economic situation

On 11 February, heads of state or government of European Union member states will meet in Brussels to seek a commitment towards implementing a revitalised economic strategy to boost employment and growth in the EU. more »

IMF Sees Growth in Lithuania in 2010-2011

International Monetary Fund forecasts that Lithuania’s economy will grow 1.6 % this year, making it “the only one of the three Baltic economies expected to be in the positive territory in 2010”. more »

Ryanair to Open Its 1st Central European Base in Kaunas

Raynair announced it would open its 40th and 1st Central European base at Kaunas, Lithuania’s second largest city, in May with 2 based aircraft and 18 routes. more »

A new strategy to strengthen World Bank partnership with the Kingdom of Morocco

A new Partnership Strategy for Morocco has been approved by the Board of Executive Directors of the World Bank. more »

Sebastián: “The electric car is an opportunity for European industry”

The electric car is an opportunity for European industry. more »

EBRD launches new strategy for Kazakhstan

The EBRD’s Board of Directors has adopted a new strategy for Kazakhstan, which reinforces the Bank’s commitment to further support the Kazakh economy and sets out the priorities for its activities in the country over the next three years. more »

State aid: Commission approves Swedish State guarantee for Saab

The European Commission has authorised, under EU state aid rules, plans notified by Sweden to provide a guarantee that would enable Saab Automobile AB to access a loan from the European Investment Bank (EIB). more »

The EU wants to showcase the commitment of science to economic recovery

At the informal meeting of the Ministers of Competitiveness (Science and Industry), to be held between 7 and 9 February in San Sebastian, the issues on the table will include placing science at the top of the EU agenda and showcasing its role in economic recovery, as well taking the debate on the electric vehicle to EU level. more »

IMF Executive Board Approves US$1.27 Billion Stand-By Arrangement with Jamaica

The Executive Board of the International Monetary Fund (IMF) today approved a 27-month Stand-By Arrangement with Jamaica in the amount of SDR 820.5 million (about US$1.27 billion) to support the country’s economic reforms and help it cope with the consequences of the global downturn. more »

Statement of an IMF Staff Mission to the Kyrgyz Republic

Mr. Nadeem Ilahi, chief of an International Monetary Fund (IMF) staff mission to the Kyrgyz Republic, issued the following statement today in Bishkek. more »