ARMENIAN REGULATORY AUTHORITY APPROVES IEC’S INVESTMENT PROGRAM
ARKA
March 25, 2009
YEREVAN, March 25. /ARKA/. The RA Public Services Regulatory Commission
has approved a 10.2bln AMD less VAT investment program for 2009-2011
submitted by the International Energy Corporation (IEC).
The reporter, Head of the Commission’s Department for Investment
Programs Abgar Budaghyan reported that the funds will be invested in
the renovation and re-equipment of six hydro-power plants (HPP).
"Almost 8.377bln AMD will be invested in the renovation of the Yerevan
HPP in 2009-2011 – almost 3,764mln AMD in 2009, about 3.407bln AMD
in 2010 and almost 1.205bln AMD in 2011," Bubaghyan said.
He reported that a total of 679mln AMD are to be invested in the
modernization of the Sevan HPPs – 99mln AMD in 2009, 80mln AMD in
2010 and 500mln AMD in 2011.
The fish screen of the hydroelectric system will be renovated. Design
and survey works have been carried out, and new substations have
been installed.
A total of 120mln AMD are to be invested in the Hrazdan HPP, 450mln
AMD in the modernization of the Argel HPP and 250mln AMD in the
modernization of the Kanaker HPP. The investments are scheduled
for 2011.
Under the investment program, the diversion canal will be renovated
and a new pressure chamber installed at the Hrazdan HPP, a new power
transformer will be installed at the Argel HPP and technical equipment
will pa rtially be modernized at the Kanaker HPP.
As regards the Arzni HPP, a total of 158mln AMD are to be invested
in its technical modernization this year.
Budaghyan also reported that 180.8mln AMD more will be invested under
other programs.
The Commission also decided to invalidate the IEC’s 9.1bln AMD
(inclusive of VAT) investment program for 2008-2010 approved last
February.
Under the program, the company planned to invest 900mln AMD from its
own funds and attract 8.2bln AMD as credits.
From: Emil Lazarian | Ararat NewsPress
