The government of Sao Tome and Principe plans to privatise state water and electricity company Empresa de Água e Electricidade, the minister for Public Works, Infrastructure, Natural Resources and the Environment, Osvaldo Abreu said cited by Pan-African news agency Panapress.
At the end of a visit to the Santo Amaro thermal power plant and the Sao Tome hydroelectric facility, the minister said that the government planned to look into the best way of privatising the company.
Osvaldo Abreu did not mention which companies were interested in the company, but noted that Empresa de Água e Electricidade needed a cash injection of around US$40 million.
Angolan oil company Sociedade Nacional de Combustíveis de Angola (Sonangol) is one of the biggest investors in the Sao Tome and Principe energy sector, which has had a lack of liquidity for several years. (macauhub)