Armenian Energy Ministry: Enterprises in energy sector will implement investment projects worth 1.5 bln USD within next few years

ArmInfo. The projects of  evaluation of the geothermal deposits of Armenia and the energy  efficiency programs worth a total of 126 mln USD will be continued in  2017, Deputy Energy Minister Hayk Harutyunyan said at today's meeting  of the Investment Commission headed by Armenian Minister of Energy  Infrastructures and Natural Resources Ashot Manukyan.

Harutyunyan said that within the next three years additional programs  worth 190 mln USD will be implemented at the expense of the  international donor organizations' funds. The programs aim to enhance  energy efficiency in the country. In addition, Contour Global's  investments in modernization of the Vorotan Hydro Cascade will total  nearly 80 mln USD. 

Karen Ghahramanyan, Head of the Energy Ministry Staff, said that  Electric Networks of Armenia CJSC will invest over 40 mln USD in  re-equipment of the distribution networks. He noted that the  enterprises in the energy sector will implement programs worth 1.5  bln USD within the next few years.  

Deputy Head of the State Water Committee Volodya Narimanyan said that  the construction of the Vedi reservoir will be launched in March and  will be completed within 4 years. The construction project worth 95  mln USD will be implemented by a consortium of Iranian and Armenian  companies. He pointed out that in 2017-2018 Getalich-Kaghtsrashen and  Baghramyan-Norakert water pipelines will be built. The investments in  the construction will total 20 mln USD.  

As regards investments in the mining sector of Armenia, Deputy Energy  Minister Vardan Gevorgyan noted that the investments of Lydian  Armenia, Teghout and GeoPromining Gold will amount to 200 mln USD  within the next few years.