  Electric Networks of Armenia plans $730 million investment by 2027 November 15, 2017 - 16:31 AMT PanARMENIAN.Net - The Electric Networks of Armenia CJSC will make investments worth AMD 350 billion (around $730 million) by 2027, VAT exempt. The Public Services Regulatory Commission (PSRC) on Wednesday, November 15 approved the ENA's revisions for 2017-2020 investment project and the new one, set for 2018-2027. The programs envisage replacement and modernization of equipment in 6 (10) / 0.4 kV voltage networks, reconstruction and modernization of power lines in 35 - 0.4 kV voltage networks, including secondary electricity supply, network expansion and connection of new subscribers, installation of energy accounting system in 0.4 kV voltage networks, as well asintroduction of international standards of management and automated accounting systems. As a result, company costs will be cut, losses will meet European standards, the number and duration of blackouts will twice decline, and voltage deviations will be excluded. Electric Networks of Armenia operates as a subsidiary of Tashir Group of Companies, belonging to RUssian-Armenian billionaire Samvel Karapetyan.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Biden honors resilience of Armenian people on April 24  U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide.Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan.Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says.Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |
