Electric Networks of Armenia plans $730 million investment by 2027

Electric Networks of Armenia plans $730 million investment by 2027

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