Languages
Page last updated at 14:47 GMT, Saturday, 1 May 2010 15:47 UK

Bolivia nationalises three private electricity firms

Evo Morales (file image)
Evo Morales says he wants to put wealth in the hands of Bolivians

Bolivian President Evo Morales has ordered the nationalisation of four private electricity companies.

Police moved into the offices of Corani, Valle Hermoso and Guaracachi firms, following Mr Morales' decree.

Corani is half owned by a subsidiary of France's GDF Suez. Guaracachi's main partner is Britain's Rurelec, while ELFEC and Valle Hermoso are local.

President Morales said that the government now controlled 80% of electricity generation in the country.

Last year, Mr Morales announced the takeover of a subsidiary of British oil company BP, which supplied jet fuel across the Andean nation.

He has recently nationalised oil and gas reserves to redistribute wealth to Bolivia's indigenous majority.

The four companies seized on Saturday account for more than half of Bolivia's electricity market.

They emerged following the privatisation of the state National Electricity Company in the 1990s.

President Morales nationalised the gas and oil industry in 2006 and the national telephone company in 2008.

Both those announcements also came on May Day, says the BBC's Andres Schipani in Bolivia.

Since then he has taken control of several utility and commodities companies.



Print Sponsor


SEE ALSO
Bolivia takes over BP subsidiary
01 May 09 |  Americas
Bolivia nationalises energy firm
24 Jan 09 |  Americas
Governors snub Bolivia referendum
24 Jun 08 |  Americas
Bolivia to pay for seized shares
05 Jun 08 |  Business
Morales sets Bolivia recall date
12 May 08 |  Americas
Bolivia poll sparks crisis fears
30 Apr 08 |  Americas
Bolivia agrees new energy deals
29 Oct 06 |  Business
Country profile: Bolivia
02 Aug 12 |  Country profiles

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific