water and electricity equipment manufacturing and procurement company (satkab) was established in 1967 with 110 subsidiary companies currently under privatization process, an aide to the minister of energy said yesterday.
"the goal behind establishing the company was to develop trade activities and production sector," abdolhamid emami, advisor to energy minister for industrial affairs, told a press conferences. the 110 subsidiary companies include 18 manufacturing companies, 29 contractor companies, 24 consultant companies, 33 service-providing companies and 6 inactive companies planned to be floated. the company is tasked with privatizing the subsidiary companies of the energy ministry and providing required services for water and energy industries, he said. despite the existing problems relevant to privatization, satkab is going to be privatized with an aim of increasing efficiency of financial and humanitarian resources, downsizing the governmental decision making body, and encouraging foreign investing in iran, he added