ITAR-TASS News Agency
TASS
September 23, 2005 Friday
Interenergo to control Armenian electricity distribution grid
By Tigran Liloyan
YEREVAN
The Armenian government has decided to transfer the entire stock of
the republican electricity distribution grid to Interenergo – a
component of the Unified Energy System of Russia, Armenian Energy
Minister Armen Movsesian told a Friday press conference in Yerevan.
He said the Unified Energy System of Russia would assume all the
commitments of the current owner of the republican electricity
distribution grid, the British-based Midland Resources. The British
company suggested the stock transfer two weeks ago.
The minister denied claims that the Unified Energy System of Russia
would allegedly become the monopoly on the Armenian energy market. He
said the Russian company produces only 10% of the republican
electricity.
On June 23 Interenergo acquired the right to 99-year control over the
Armenian electricity network with $73 million.