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

EBRD set to take minority stake in Promsvyazbank

EBRD to pay 4.6 billion roubles for 11.75 percent stake. more »

Spanish Move to Alytus

On 24 November in London a letter of intent will be signed between Alytus Municipality and the Spanish aluminium company “Sopena group” regarding investments of the “Sopena group” in Alytus. more »

Lithuania invites China to benefit from tourism opportunities

Tourism opportunities in Dzūkija Region of Lithuania and other issues of incoming tourism promotion were the main topics of the meeting of the Mixed Intergovernmental Commission on Trade and Economic Cooperation between the People’s Republic of China and the Republic of Lithuania. more »

Belarus, Ukaine and Lithuania will be the first states to present trilateral Eastern Partnership projects

On 22-23 November in Kiyv, foreign ministers of Lithuania, Ukraine and Belarus discuss trilateral cooperation and participation of Belarus and Ukraine in the Eastern Partnership of the European Union. more »

Boosting energy savings in Bulgaria

The Kozloduy International Decommissioning Support Fund is supporting an innovative programme to boost energy savings and efficiency of public buildings in Bulgaria with a €5 million grant. more »

A return to robust economic growth not expected for at least another two years, immediate reforms a top priority- DnB NORD Economic Research Group

Bank DnB NORD’s Economic Research Group predicts that out of the six Baltic Rim countries, moderate economic growth will be seen in Poland, Finland and, possibly Estonia in 2010, while Denmark, Lithuania and Latvia will need more time to climb out of recession. more »

European Commission and IMF welcome reaffirmed commitments of the largest foreign banks in Hungary

In a meeting in Brussels of the European Bank Coordination Initiative held on 19 November 2009, the parent banks of the six largest foreign banks active in Hungary reaffirmed their commitments made in May 2009 to support their subsidiaries. more »

AB Bank SNORAS will be represented in the United Kingdom by the representative office in London

On 17 November 2009, the Board of AB Bank SNORAS decided to establish the bank’s representative office in London. more »

Commission approves €103 million capital injections for 'Mortgage and Land Bank of Latvia'

The European Commission has approved, under EC Treaty state aid rules, two capital injections in favour of 'The Mortgage and Land Bank of Latvia' (LHZB). more »

Ghana to sign first voluntary partnership agreement with EU on legal timber exports

The government of G hana will tomorrow sign an historic agreement with the EU aimed at ensuring that only legally harvested timber from the West African country is exported to the EU market. more »