Pan Armenian Network

RAO UES OF RUSSIA’S SUBSIDIARY PURCHASED ARMENIAN DISTRIBUTION GRID FOR $80
MILLION

14.02.2005 17:22

/PanARMENIAN.Net/ Inter RAO UES Company, the subsidiary of the RAO UES
of Russia has purchased the distribution grid of Armenia from Midland
Resources Holding LTD for $80 million, Haykakan Zhamanak daily reports
noting that the official information on the bargain will be spread
in April 2005. According to the daily the World Bank is categorically
against the idea of passing the Armenian grid to the Russian party. The
daily also affirms that “after the sale Russia’s control will be
sole”. Evidently this bargain testifies of the RAO UES of Russia’s
wish to synchronize the work of the power grids throughout the whole
region. With the exploitation of the Iran-Armenia gas pipeline and
taking into account the item of the general agreement on the export
of the Armenian energy to Iran, the issue of the synchronization of
the energy systems of Armenia and Iran will be raised. Taking into
consideration the fact that the RAO UES of Russia controls almost
the whole Georgian power system the company is to all appearances
striving to synchronize the power systems, including the Armenian
and Georgian ones, and may be Turkish as well.