Panorama.am

16:27 07/12/2007

ARMENIAN ELECTRIC NETWORKS: 1.35 BILLION DRAMS TO BE SPENT

The Public Services Regulatory Committee approved today 36 projects of
the Armenian Electric Networks company costing 1.35 billion Armenia
drams, VAT excluded. The projects must be implemented by the end of
this year.

Abgar Budaghyan, investment department head of the committee, said
that the company submitted 52 projects for approval costing 2.336
billion drams. The projects mainly relate to recovery of distribution
networks, enlargement of the company due to new customers as well as
reconstruction of the administrative buildings of the company.

RAO `EES Rossii’ is 100 percent owner of the Armenian Electric Network
closed joint stock company. The shares were acquired by Interenergo
company in 2006 on $73 million.

Source: Panorama.am