HIGH-VOLTAGE NETWORKS CJSC, GERMAN AREVA ENERGIETECHNIK GMBH SIGN
CONTRACT ON ALAVERDI-2 HIGH-VOLTAGE SUBSTATION RECONSTRUCTION
YEREVAN, May 18. /ARKA/. High-voltage Networks CJSC signed a contract
with German Areva Energietechnik GmbH on Alaverdi-2 high-voltage
substation reconstruction, the CJSC Director General Saak Abramyan
said in his interview with ARKA News Agency.
He reminded that Areva Energietechnik GmbH had won international tender
worth 7,350mln euros in the frames of a Germany-financed program of
the substation reconstruction.
In his words, Armenian side has already fulfilled its commitments on
the project. “We are waiting now KfW German bank to transfer advance
payment making 20% of mentioned amount of the contract and after that
Alaverdi-2 reconstruction work will start”, Abramyan said.
Under intergovernmental agreement on financial cooperation in the
frame of Caucasus initiative, German Government will give High-voltage
Networks CJSC credit of 47 mln euros for Alaverdi-2 (Northern Armenia)
substation re-equipment. The credit is given for 12-year-long term
with two-year preferential period and a 5-percent interest rate. As
a result of reconstruction, the substation power will grow twice and
electricity will convey to Georgia through it.
Thanks to the substation reconstruction, high-quality and non-stop
power supply will be ensured in the economically important to Armenia
region. M.V. -0–