A number of investment projects in power engineering to be continued in Armenia in 2017

ArmInfo. A number of  investment projects in power engineering will be continued in Armenia  in 2017, Arthur Baghdasaryan, Director General of High Voltage  Electric Networks CJSC, said at today's meeting of the Investment  Commission headed by Armenian Minister of Energy Infrastructures and  Natural Resources Ashot Manukyan.  

He said that the work on the project of modernization of Haghtanak,  Charentsavan-3, Vanadzor-1, Agarak- 2, Shinuhayr and Ashnak  substations is still underway. The total investment value is $50.5  mln. An Indian company continues the construction of the 220 KV  Hrazdan-Shinuhayr power transmission line. It is also envisaged to  launch the construction of the Noyemberyan-Lalvar power transmission  line in spring. 

To note, in 2014 the World Bank Board of Executive Directors approved  a US$40 million loan for the Additional Financing of the Electricity  Supply Reliability Project for Armenia. This additional financing  would scale up activities to enhance the impact of the ongoing  project and cover the cost of rehabilitation of three substations  essential for Armenia's power transmission network -Haghtanak,  Charentsavan-3, and Vanadzor-1 substations. The average age of  Armenia's power transmission assets is around 45 years and most of  them have not undergone any major rehabilitation or upgrade over the  past decades. The ongoing Electricity Supply Reliability Project has  been designed to enhance the reliability of the power supply in the  country by improving the capacity of the power transmission network  back-bone infrastructure. Around 230 km of outdated transmission  lines from the Hrazdan Thermal Power Plant to the Shinuhayr  substation is under replacement. The investments will increase the  capacity and reliability of the targeted section of the transmission  network by lowering frequency of line failures and related power  supply outages. Total financing of the project is US$50 million, of  which US$10 million will be the Government's contribution. The World  Bank will provide a US$40 million IBRD loan of variable spread with a  10 year grace period and the total repayment term of 25 years.