Kyrgyzstan continues to privatise energy industry

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BISHKEK - The Kyrgyz government sold its shares in JSC Severelektro to private investors, news media reported February 3.

In all, 87.9% of all shares in the company went to a consortium of several companies, the names of which have yet to be released. Authorities have not disclosed the value of the tender, CA-news reported.

JSC Severelektro operates the main electrical grid selling and distributing energy in northern Kyrgyzstan.

The government announced the privatisation of the Kyrgyz energy system in 2007. President Kurmanbek Bakiyev said the main reason for privatisation was poor government management, Ferghana.ru reported.