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Bolivia trumpets nationalizing electrical grid

Bolivia trumpets nationalizing electrical grid

Bolivian President Evo Morales says his government is completing the nationalization of the country's electricity industry by taking over its electrical grid from a Spanish-owned company.
Morales says he's ordered troops to take control of installations of the company, a subsidiary of Red Electrica Corporacion S.A.
He did not provide details on how the Spanish company would be compensated.
The Morales government assumed control over Bolivia's electrical generation and end-user sales two years ago.
The takeover of 74 percent of the transmission grid that was owned by Red Electrica gives the government control of 80 percent of the electricity industry.