Cape Verde's Prime Minister Jose Maria Neves has said he wants the Portuguese shareholders in the archipelago's Electra power and water utility "to leave Cape Verde as soon as possible."

According to a report reaching Luanda on Wednesday, Neves said in Praia talks on the future of Electra would begin later this month between Cape Verde energy officials and EDP and Water of Portugal (ADP), who hold a 51 percent controlling stake in the islands' electricity and water company.

The Cape Verde's government alleged that due to insufficient investment by its Portuguese partners, Electra has failed to keep up with rising electricity demand in Cape Verde and the archipelago has been hit by repeated power outages and water cutoffs in recent months.

EDP and ADP say the financial viability of Electra, 34 percent owned by the Cape Verdean state, is at risk due to increased production costs and insufficiently high energy tariffs.

The company reportedly made combined losses of 35 million euros in the five years before 2005.

Meanwhile, Portuguese Prime Minister Jose Socrates has said he regrets the plight of Electra and that the utility's crisis " affects the image of Portugal."

Source: Xinhua