Tigran Sargsyan participates in ceremony of project completion on modernization of substations

PanARMENIAN.Net - On November 23, Armenian Prime Minister Tigran Sargsyan, accompanied by OJSC INTER RAO UES Management Board Chairman Boris Kovalchuk and Electric Networks of Armenia CJSC Director General Yevgeni Gladunchik, participated in a ceremony of completion of the project on reconstruction of 17 substations.

Tigran Sargsyan expressed hope that the investments to the project will be justified, as a result of which there will be a high reliability of electric power supply in Armenia.

“It is a large-scale program, which is aimed at securing uninterrupted electric power supply to the country’s consumers,” Boris Kovalchuk said in his welcoming speech.

According to him, the total cost of the project amounted to $50mln, including $35mln allocated by the Japan Bank for International Cooperation. The rest was provided from funds of Electric Networks of Armenia. The works were carried out by a Chinese company, which won the tender. The program implementation will lead to reduction of technical losses and exploitation costs.