NAGORNO-KARABAKH GOVERNMENT INTRODUCES NEW POLICY IN SPHERE OF POWER ENGINEERING

DeFacto Agency
May 14 2008
Armenia

YEREVAN, 14.05.08. DE FACTO. The sitting of the Nagorno-Karabakh
Republic government held today was devoted to the problems of the
sphere of power engineering. The NKR PM Ara Harutyunian noted the
state was initiating new policy in the sphere of power engineering,
which would be realized via a number of target programs. In part, a
decision on transformation of ArtsakhHES CJSC to OJSC, share-holders
of which can also become ordinary citizens of the NKR, was made
today. According to Ara Harutyunian, the task to draw both external and
internal investments to ArtsakhHES has been set today. The shares will
be offered at low prices and will be available even to pensioners. "A
lot of persons should be drawn to valuable usage of the object of
nationwide significance and its management to ensure profitability
of HES", the PM underscored. The state will hold control package of
shares. The total market cost of the share company has been estimated
at 5, 6 milliard drams.

The government has also approved the NKR water resources development
programs. ArtsakhHES OJSC has been commissioned to start works on the
construction of small hydro electro stations. The program’s principal
goal is to completely ensure the needs of the Nagorno-Karabakh’s
economy and export electro energy. At the first stage it is planned
to build five mini hydro electro stations.

Over 783 million drams is planned to be invested in the sphere of
electro power engineering in 2008. In Ara Harutyunian’s words, the
profitability of the branch where significant amendments will be
made will exceed the index of 2006 by 400 million drams. Besides,
1 milliard 200 million drams will be assigned to gasification.

From: Emil Lazarian | Ararat NewsPress