Wednesday, November 23 2016 14:27
Naira Badalian

Deputy Minister: Armenia claims to become a serious transiter of electricity

Deputy Minister: Armenia claims to become a serious transiter of  electricity

ArmInfo. Upon completion of the  construction of two power transmission lines (Iran-Armenia and  Armenia-Georgia), the reciprocal cross-flow of electric energy Will  exceed the current indicators almost 10-fold, which will allow the  republic to become a serious transiter of electricity, Deputy  Minister of Energy Infrastructures and Natural Resources of Armenia  Hayk Harutyunyan said at a press conference on November 23, when  presenting the Armenian Government's priorities in power engineering.    

The deputy minister said that Armenia is conducting an active policy  in terms of regional integration and trade expansion. The country is  building two power transmission lines (Iran-Armenia and Armenia-  Georgia), which will be simultaneously completed in 2019. 

Upon completion of the construction, he said, Armenia will not only  enhance its image as a transiter, but will also considerably increase  the efficiency of consumption of the current capacities in the  country by creating new capacities for electricity export. "At the  present stage, electricity holds the 6th positions in terms of  export. We are planning to rise by several positions in this rating,"  he said. 

The construction of the Armenia-Georgia and Iran-Armenia power  transmission lines will enable creation of a single energy corridor.  The project envisages installation of 722 electric poles. Almost all  the sections through which the power transmission line will be laid  have already been bought out. The equipment imported to Armenia has  already been tested. 

Earlier ArmInfo reported that Armenia intends to create a regional  electric power market with its partners in the region.  Armenian  Deputy Minister of Energy Infrastructures and Natural Resources Areg   Galstyan said in Parliament on October 26 that the need to create   conditions for effective parallel activities of the power grids of   Iran, Georgia, Armenia and Russia. The construction of Iran- Armenia   and Armenia-Georgia high voltage power transmission lines will create  all the necessary prerequisites for that. Both projects will be   implemented by the end of 2019. At the same time, Georgia is   negotiating with Russia on construction of a new 500KV power   transmission line and substations, which will enable not only   reciprocal cross-flows of electric power, but also commercial deals.   At the moment, a coordination group at the level of deputy ministers   of the four countries is actively working to launch the projects. By  late 2019 the 1 thsd MW North-South energy corridor will operate at   full capacity. He stressed that Armenia will both economically and   politically benefit even from electric power transit. To note, SUNIR   (Iran) has received official permit to build a 400KV Iran-Armenia   power transmission line. The relevant decision was taken during the   Government's meeting on April 28. The permit was provided under the   memorandum signed between Armenia and Iran in May 2006. To recall,   the Armenian Ministry of Energy and Natural Resources and the Export   Development Bank of Iran signed the agreement on construction of   400KV Iran-Armenia power transmission line in August 2015. The total   cost of the project is 107.9 mln EUR. The Iranian Bank will provide  77% of the amount, with the remaining 23% to be provided by the   general contractor - SUNIR. The total length will be 279km. The line   will be laid from Meghri to Hrazdan, where a 440/220KV substation   will be built 10 km away from the Hrazdan TPP. From the latter a new   400KV power transmission line will be laid to Georgia under another  project (at the expense of a KfW loan with co- financing of EIB and   the EU. The total financing will be 105.2 mln EUR).


News
Banks of Armenia increased tax deductions to state treasury in 2021,  after decline in 2020Banks of Armenia increased tax deductions to state treasury in 2021,  after decline in 2020
Armenian banks managed to significantly increase net profit in 2021Armenian banks managed to significantly increase net profit in 2021
Tax payments: INGO Armenia leader of Armenia`s insurance sector Tax payments: INGO Armenia leader of Armenia`s insurance sector 
Ameriabank. The Largest Taxpayer among Armenian Banks  According to the Results of Year 2021Ameriabank. The Largest Taxpayer among Armenian Banks According to the Results of Year 2021
Pashinyan: The construction of the  Yeraskh-Julfa-Ordubad-Meghri-Horadis railway is not a heavy burden  for Armenia from a financial point of viewPashinyan: The construction of the  Yeraskh-Julfa-Ordubad-Meghri-Horadis railway is not a heavy burden  for Armenia from a financial point of view
Armenian telecom operators increased tax payments to state treasury  by 14% in 2021Armenian telecom operators increased tax payments to state treasury  by 14% in 2021
Armenia`s budget assistance to Artsakh in 2022 will amount to about  300 million US dollarsArmenia`s budget assistance to Artsakh in 2022 will amount to about  300 million US dollars
Zangezur Copper-Molybdenum Combine topped list of largest taxpayers  in ArmeniaZangezur Copper-Molybdenum Combine topped list of largest taxpayers  in Armenia
EBRD to provide US$25 million to Ameriabank under SMEs, WiB  programmes in ArmeniaEBRD to provide US$25 million to Ameriabank under SMEs, WiB  programmes in Armenia
Economist: Armenia`s export structure has degraded greatly over the  past 20 yearsEconomist: Armenia`s export structure has degraded greatly over the  past 20 years
We should consider opening roads with Turkey also in terms of  opportunitiesWe should consider opening roads with Turkey also in terms of  opportunities
David Papazian appointed Chairman of Board of Fly Arna  Armenia`s  national airlineDavid Papazian appointed Chairman of Board of Fly Arna  Armenia`s  national airline
Armenia simplifies licensing for number of activities for foreign  companiesArmenia simplifies licensing for number of activities for foreign  companies
Armenia once again extended embargo on scrap metal exports Armenia once again extended embargo on scrap metal exports 
NDU and Central Depository of Armenia signed a memorandum of cooperationNDU and Central Depository of Armenia signed a memorandum of cooperation
Moody`s assigns Ba3 IFSR to Export Insurance Agency of Armenia with  stable outlookMoody`s assigns Ba3 IFSR to Export Insurance Agency of Armenia with  stable outlook
Expert: Armenia will never be able to have a positive trade balance  with TurkeyExpert: Armenia will never be able to have a positive trade balance  with Turkey
Promise of Deputy Prime Minister: The price of gas will not increase  for socially disadvantaged groupsPromise of Deputy Prime Minister: The price of gas will not increase  for socially disadvantaged groups
First Istanbul-Yerevan flight of Pegasus Airlines is scheduled for  February 2First Istanbul-Yerevan flight of Pegasus Airlines is scheduled for  February 2
CMTPL e-policies continue to grow rapidly in Armenia, approaching  quarter of total number of contractsCMTPL e-policies continue to grow rapidly in Armenia, approaching  quarter of total number of contracts
Dairy products with milk fat substitutes and/or other additives will  be placed on separate store shelves in Armenia: ProjectDairy products with milk fat substitutes and/or other additives will  be placed on separate store shelves in Armenia: Project
Armenia`s Public Service Regulatory Commission approves sale of Filor Ventures Limited, Rostelecom`s  only foreign assetArmenia`s Public Service Regulatory Commission approves sale of Filor Ventures Limited, Rostelecom`s  only foreign asset
Hovhannes Khachatryan elected Deputy Head of Central Bank of ArmeniaHovhannes Khachatryan elected Deputy Head of Central Bank of Armenia
In 2021, EBRD portfolio in Armenia was record-breaking-$175 millionIn 2021, EBRD portfolio in Armenia was record-breaking-$175 million
Expert: Rise in energy prices in Armenia is a consequence of wrong,  uncalculated decisions of the authoritiesExpert: Rise in energy prices in Armenia is a consequence of wrong,  uncalculated decisions of the authorities
Economy Ministry announces launch of program to assist textile  industry in ArmeniaEconomy Ministry announces launch of program to assist textile  industry in Armenia
Government is preparing programs to support domestic producers in  view of lifting of embargo on Turkish importsGovernment is preparing programs to support domestic producers in  view of lifting of embargo on Turkish imports
Armenian NPP and Rusatom Overseas to sign Memorandum of UnderstandingArmenian NPP and Rusatom Overseas to sign Memorandum of Understanding
Vahagn Khachatryan to head Armenian-Bulgarian intergovernmental  commission on economic and scientific-technical cooperationVahagn Khachatryan to head Armenian-Bulgarian intergovernmental  commission on economic and scientific-technical cooperation
Minister of Health of Armenia will head intergovernmental commission  on trade and economic cooperation with LithuaniaMinister of Health of Armenia will head intergovernmental commission  on trade and economic cooperation with Lithuania
Ministry of Economy: Armenia intends to reach 7% economic growth in  2022Ministry of Economy: Armenia intends to reach 7% economic growth in  2022
Labor productivity in Armenia is lower than EAEU averageLabor productivity in Armenia is lower than EAEU average
Acba Bank Brings Apple Pay to Customers. A safer, more secure and private way to pay with iPhone and Apple WatchAcba Bank Brings Apple Pay to Customers. A safer, more secure and private way to pay with iPhone and Apple Watch
By the end of 2022, inflation in Armenia will decrease to 4 +/-1.5%:  Candidate for Deputy Governor of Central BankBy the end of 2022, inflation in Armenia will decrease to 4 +/-1.5%:  Candidate for Deputy Governor of Central Bank
 Converse Bank Brings Apple Pay to Customers  A safer, more secure and private way to pay with iPhone and Apple Watch Converse Bank Brings Apple Pay to Customers A safer, more secure and private way to pay with iPhone and Apple Watch
Armenia`s premier chairs discussion of wine industry development  prospects  Armenia`s premier chairs discussion of wine industry development  prospects  
Ardshinbank Brings Apple Pay to CustomersArdshinbank Brings Apple Pay to Customers
Cash circulation to be restricted in Armenia from July 1, 2020Cash circulation to be restricted in Armenia from July 1, 2020
Environmental protection ARMENAL`s priorityEnvironmental protection ARMENAL`s priority
Armenia`s Minister of Economy appointed Armenian-Moldavan Economic Cooperation Commission co- chairArmenia`s Minister of Economy appointed Armenian-Moldavan Economic Cooperation Commission co- chair
Armenia`s minister of economy appointed co-chair of Armenian-Kazakh Economic Cooperation  CommissionArmenia`s minister of economy appointed co-chair of Armenian-Kazakh Economic Cooperation  Commission
Armenia`s Minister of Economy appointed co-chair of Armenian-Kyrgyz Economic Cooperation  CommissionArmenia`s Minister of Economy appointed co-chair of Armenian-Kyrgyz Economic Cooperation  Commission
In 2021, the number of subvention programs in Armenia exceeded the  two-year figureIn 2021, the number of subvention programs in Armenia exceeded the  two-year figure
ANIF Fund will invest about USD 1.4 million in transport and cargo  transportation fieldANIF Fund will invest about USD 1.4 million in transport and cargo  transportation field
Food Safety Inspectorate of Armenia imposes restrictions on import of  number of goods from Kazakhstan, Russia, Czech Republic and PolandFood Safety Inspectorate of Armenia imposes restrictions on import of  number of goods from Kazakhstan, Russia, Czech Republic and Poland
Only 5.5% of the highway was built under North-South program in 12  yearsOnly 5.5% of the highway was built under North-South program in 12  years
President of Armenia at meeting with Executive Director of Mubadala  noted Armenia`s interest in investments from  UAEPresident of Armenia at meeting with Executive Director of Mubadala  noted Armenia`s interest in investments from  UAE
The influx of foreign investment in the Armenian economy grew by  October 2021 due to a jump in FDIThe influx of foreign investment in the Armenian economy grew by  October 2021 due to a jump in FDI
EDB analysts presented the first in this year macroeconomic review:  Economic activity in Armenia increased by 5.2%EDB analysts presented the first in this year macroeconomic review:  Economic activity in Armenia increased by 5.2%
Armenian president`s visit results: Wizz Air Abu Dhabi to start  flights to YerevanArmenian president`s visit results: Wizz Air Abu Dhabi to start  flights to Yerevan
Armenia`s president meets with Masdar company CEOArmenia`s president meets with Masdar company CEO
The price of gas at the border in 2022 was regulated by an additional  agreement to the contract of 2013 - Ministry of Territorial  Administration and InfrastructuresThe price of gas at the border in 2022 was regulated by an additional  agreement to the contract of 2013 - Ministry of Territorial  Administration and Infrastructures
Vahan Kerobyan will head Armenian-Belarusian intergovernmental  commission on economic cooperation from Armenian sideVahan Kerobyan will head Armenian-Belarusian intergovernmental  commission on economic cooperation from Armenian side
Fly Arna, Armenia s national airline plans to launch air flights at  the end of MayFly Arna, Armenia s national airline plans to launch air flights at  the end of May
Gnel Sanosyan to head the Armenian-Turkmen intergovernmental  commission on economic cooperation from the Armenian sideGnel Sanosyan to head the Armenian-Turkmen intergovernmental  commission on economic cooperation from the Armenian side
Pashinyan formed working group for effective implementation of work  on construction program of small- medium reservoirsPashinyan formed working group for effective implementation of work  on construction program of small- medium reservoirs
Export of goods up to one million drams in Armenia will be exempt  from customs dutiesExport of goods up to one million drams in Armenia will be exempt  from customs duties
Armenia`s government grants loan to Armenian NPP Armenia`s government grants loan to Armenian NPP 
FLYONE ARMENIA launches Yerevan-Istanbul-Yerevan flightsFLYONE ARMENIA launches Yerevan-Istanbul-Yerevan flights
Armenian government to increase funding for subvention programs in  border communitiesArmenian government to increase funding for subvention programs in  border communities
Read more


Exchange rates
26.01.2022
RUB6.10-0.04
USD482.470.21
EUR544.520.24
GBP651.721.63
CAD383.671.95
JPY42.27-0.01
CNY76.280.24
CHF524.31-0.17