INVESTMENTS OF ELECTRIC NETWORKS OF ARMENIA COMPANY TO MAKE ABOUT 73 MILLION DOLLARS IN NEXT THREE YEARS
Noyan Tapan
Apr 10 2007
YEREVAN, APRIL 10, NOYAN TAPAN. At the April 10 sitting, the RA Public
Services Regulatory Commission approved the 2007-2009 investment
program of Electric Networks of Armenia company. By the program, 26
billion 961.9 million drams (about 73 mln USD) will be invested in the
next three years, including investments of 12 bln 207 mln drams this
year. Deputy head of the company’s economic and planning department
Yuri Gavrilenko said that the purpose of the investment program is
to reduce the average annual frequency and duration of consumers’
power cuts, to reduce frequency and duration of cases when electricity
tension is beyond permissible limits, to extend distribution networks,
ensure safety measures, etc.
According to Y. Gavrilenko, more than 9 bln drams will be invested
with the aim of reducing the average annual frequency and duration
of power cuts, 3 bln drams – for extension of networks, and 7.4 bln
drams – for improvement of the commercial registration system.
The speaker noted that as a result of investments, the company’s margin
will increase by 0.5 drams for one kilowatt-hour. This year the profit
and amortization of the company will amount to 5.8 bln drams.