Tuesday, October 17 2017 13:41
Alexandr Avanesov

Armenia attaches importance to implementation of  construction projects of Armenia-Georgia high-voltage power transmission line and the construction of Cape Reservoir

Armenia attaches importance to implementation of  construction projects of Armenia-Georgia high-voltage power transmission line and the construction of Cape Reservoir

ArmInfo. Armenia attaches importance to the implementation of the construction projects of the Armenia-Georgia high-voltage power transmission line and the construction of the Cape Reservoir. This was stated by the Minister of Energy Infrastructures and Natural Resources of the Republic of Armenia Ashot Manukyan at a meeting with German Ambassador to Armenia Matthias Kisler on October 17.

According to the press service of the Ministry of Energy Infrastructures and Natural Resources of the Republic of Armenia, the Armenian Minister pointed to the important role of the German bank KfW, with the financial assistance of which both projects are being implemented. Speaking about the intentions of the government on both projects, Ashot Manukyan noted that in order to ease pressure on public debt, the executive body set a goal to implement a number of credit programs in the format of "state-private sector" cooperation based on autonomous coverage of expenses.

During the meeting, the Armenian Minister detailed the directions of project implementation and the envisaged financing mechanisms. The parties agreed to continue discussions after clarifying certain issues.

As previously informed ArmInfo, the consultant of the construction project of the electricity transmission line Armenia-Georgia - the company "Fichtner GmbH & Co. KG" - has prepared a tender package for the selection of the general contractor. The project itself is planned to be implemented in three phases. Sources of funding for the first two phases are already known. Within the first two stages, it is planned to build the power transmission line itself with a voltage of 400 kilovolts and two DC substations in Ddmashen and Ayrum, which will allow starting work with the electric power system of Georgia in asynchronous mode.  Prior to this, the impact of the project on the environment and social impact was assessed. This work is planned to be completed before the end of this year, after which construction work will start. Within the framework of the project it is planned to unite the electric power systems of Armenia and Georgia, which will promote the development of mutually beneficial regional cooperation within the framework of the created energy corridor Iran-Armenia-Georgia-Russia. The preliminary cost of the program, according to the company FICHTNER will be 326.9 million euros, 10% of which is part of the contribution of Georgia.  The project is planned to be implemented in several stages. At the first stage, it is planned to build a converter substation in Ayrum and a 500 kilovolt air line with a length of 8 km towards Georgia. The second stage involves the construction of a 400-kilovolt electrical substation with a single transformer at the village of Ddmashen and a 400-kilovolt air line, which will enable the exchange of 350 megawatts of electricity. Then a module will be installed in Ayrum, and a second transformer will be installed in Ddmashen to support a capacity of 700 megawatts. Based on the requirements of market and regional cooperation, at the final stage, the third stage will install the second DC module, which will make it possible to increase capacity to 1,050 megawatts. The first two phases of the program are estimated at 188.2 million euros. Sources of the necessary funds for their financing have already been determined. To this end, in 2014-2015, three loan agreements were signed. In particular, 168 million euros were allocated by the German bank KfW as a loan, the European Investment Bank provided another 10 million euros. It is expected to receive another 10 million euros in the form of a grant from the European Commission. The first two stages of the program are envisaged to be implemented in parallel mode. The works are carried out in accordance with the established schedule, according to which construction work will begin in late 2017 and will be completed by the end of 2019. KfW Bank provided Armenia with a loan of 50 million euros and a 2 million euro grant for the implementation of the program for the construction of the Cape reservoir.  The funds are provided for a period of 15 years with a 5-year grace period at a fixed credit rate. Financial resources will be used to restore the Caps reservoir and re-equip its infrastructure. In particular, to complete the reconstruction of the reservoir with a capacity of 25 million cubic meters on the Akhuryan River, which will allow using this resource exclusively for irrigation purposes. 


News
Red Wings launches Yerevan-Volgograd flightsRed Wings launches Yerevan-Volgograd flights
EDB forecasts 7-15% decline in mutual trade between EAEU member  countries in 2022EDB forecasts 7-15% decline in mutual trade between EAEU member  countries in 2022
AMD 554mln allocated for construction design of Ajapnyak metro  stationAMD 554mln allocated for construction design of Ajapnyak metro  station
ARMENAL marks 22nd anniversaryARMENAL marks 22nd anniversary
Armenia`s GDP growth in Q1 2022 exceeded pre-Covid rates by 8.6% per  annum Armenia`s GDP growth in Q1 2022 exceeded pre-Covid rates by 8.6% per  annum 
WB allocates another $25 million loan to Armenia for the development  of education systemWB allocates another $25 million loan to Armenia for the development  of education system
CBA puts into circulation collector coin Davit BekCBA puts into circulation collector coin Davit Bek
Vahan Kerobyan: Another record has been registered in the labor  market of ArmeniaVahan Kerobyan: Another record has been registered in the labor  market of Armenia
Flyone Armenia launches Yerevan-Antalya-Yerevan direct non-scheduled  flights from June 14Flyone Armenia launches Yerevan-Antalya-Yerevan direct non-scheduled  flights from June 14
Mher Grigoryan: The activities of the trilateral working group, to  unblock transport communications, are definitely productiveMher Grigoryan: The activities of the trilateral working group, to  unblock transport communications, are definitely productive
Team Telecom Armenia improved its mobile network coverage in Yerevan  and all regions of countryTeam Telecom Armenia improved its mobile network coverage in Yerevan  and all regions of country
Warsaw Stock Exchange to acquire 65.03% shares of Armenia Securities   Exchange Warsaw Stock Exchange to acquire 65.03% shares of Armenia Securities   Exchange 
EAEU considers possibility of forming fundamentally new model of  monetary and financial regulationEAEU considers possibility of forming fundamentally new model of  monetary and financial regulation
Tender package for construction of M1 Yerevan-Gyumri-Bavra road  section of North-South project has been approvedTender package for construction of M1 Yerevan-Gyumri-Bavra road  section of North-South project has been approved
Armenia allocates AMD 5.6 billion for socio-economic development of  regions within subvention programsArmenia allocates AMD 5.6 billion for socio-economic development of  regions within subvention programs
Armenia`s pensioners to get 10% cash-back on payments Armenia`s pensioners to get 10% cash-back on payments 
Team Telecom Armenia becomes technology partner of KoreezTeam Telecom Armenia becomes technology partner of Koreez
Armenia to receive $20mln share from customs duties collected in EAEUArmenia to receive $20mln share from customs duties collected in EAEU
Pashinyan receives Executive Director of World Trade Centers  AssociationPashinyan receives Executive Director of World Trade Centers  Association
Vahan Kerobyan on goals of MoE: Vahan Kerobyan on goals of MoE: "Dry Port" of Gyumri will provide 3%  of Armenia`s GDP 
Evocabank replenishes its share capitalEvocabank replenishes its share capital
"The state collects taxes from the economy, but does not spend, thus  reducing economic activity": Luys Foundation 
Investin.am business portal for Private Equity has been launched in  ArmeniaInvestin.am business portal for Private Equity has been launched in  Armenia
YOY inflation in Armenia in April 2021 was 8.4%, and in January-April  alone - 5.8%YOY inflation in Armenia in April 2021 was 8.4%, and in January-April  alone - 5.8%
Branch of International Coaching Federation has been opened in  ArmeniaBranch of International Coaching Federation has been opened in  Armenia
Gnel Sanosyan discusses new agreement on gas-for-electricity program  with Iranian Petroleum Minister Gnel Sanosyan discusses new agreement on gas-for-electricity program  with Iranian Petroleum Minister 
RA High-Tech Industry Minister, French Ambassador discuss Armenia`s  participation in VivaTech 2022RA High-Tech Industry Minister, French Ambassador discuss Armenia`s  participation in VivaTech 2022
MoE reports on results of World Bank`s CARMAC2 programMoE reports on results of World Bank`s CARMAC2 program
Central Bank of Armenia: Prices for food and energy  are expected  to stay at high levelCentral Bank of Armenia: Prices for food and energy  are expected  to stay at high level
CMTPL loss ratio in Armenia decreased from 86% in 2021 to 67% by May  2022CMTPL loss ratio in Armenia decreased from 86% in 2021 to 67% by May  2022
Evocabank to help Armenian postal operator introduce financial  servicesEvocabank to help Armenian postal operator introduce financial  services
Remittances of labor migrants from Russia decreased, while transfers  of Russians increased: Central Bank of ArmeniaRemittances of labor migrants from Russia decreased, while transfers  of Russians increased: Central Bank of Armenia
Armenia, Iran reached agreement to remove obstacles to increase trade  between two countriesArmenia, Iran reached agreement to remove obstacles to increase trade  between two countries
Wildberries launches direct sales from Armenian entrepreneursWildberries launches direct sales from Armenian entrepreneurs
Armenia`s Minister of Economy WB Country Manager discuss CARMAC IIArmenia`s Minister of Economy WB Country Manager discuss CARMAC II
Armenian, UAE  FMs discuss bilateral cooperation Armenian, UAE  FMs discuss bilateral cooperation 
Armenia to attract another loan from IBRD in amount of EUR 26.5  million to improve public administration systemArmenia to attract another loan from IBRD in amount of EUR 26.5  million to improve public administration system
According to UBA level of profitability of the Armenian banking  system is quite lowAccording to UBA level of profitability of the Armenian banking  system is quite low
$10 million to be invested in construction of multifunctional  business center in Dzoragyugh district of Yerevan$10 million to be invested in construction of multifunctional  business center in Dzoragyugh district of Yerevan
Converse Bank bonds can now be purchased via the mobile applicationConverse Bank bonds can now be purchased via the mobile application
UBA: Net inflow of private transfers to Armenia increased by 45% per  annum in Q1UBA: Net inflow of private transfers to Armenia increased by 45% per  annum in Q1
Seyran Sargsyan: The reduction in non-resident deposits had a  negative impact on the total volume of bank depositsSeyran Sargsyan: The reduction in non-resident deposits had a  negative impact on the total volume of bank deposits
UBA: Volumes of lending to the Armenian economy have grown in almost  all areasUBA: Volumes of lending to the Armenian economy have grown in almost  all areas
Team Telecom Armenia to start business data center construction Team Telecom Armenia to start business data center construction 
Discount system in cashless transactions for pensioners to be  introduced in Armenia Discount system in cashless transactions for pensioners to be  introduced in Armenia 
Armenia`s government to allocate  $10mln to road renovation Armenia`s government to allocate  $10mln to road renovation 
Passenger traffic in Armenia reached 40% growth in Q1Passenger traffic in Armenia reached 40% growth in Q1
Armenia, Iran simplify mutual access of investors to FEZ markets of  two countriesArmenia, Iran simplify mutual access of investors to FEZ markets of  two countries
Armenia`s communications sector revenue in Q1 2022 increased by 6.8%Armenia`s communications sector revenue in Q1 2022 increased by 6.8%
Armenia reduced wine production in Q1Armenia reduced wine production in Q1
Pashinyan receives Alexei Overchuk and Andrey RudenkoPashinyan receives Alexei Overchuk and Andrey Rudenko
Tourist flow to Armenia starts to recoverTourist flow to Armenia starts to recover
ARMSWISSBANK receives EBRD award ARMSWISSBANK receives EBRD award "The most Active Issuing Bank in Armenia for 2021"
Natural population decline was recorded in Armenia Natural population decline was recorded in Armenia 
Armenia`s population decreased by 2.3 thousand people by April 1,  2022Armenia`s population decreased by 2.3 thousand people by April 1,  2022
S&P Global Ratings assigns S&P Global Ratings assigns "B-" (Local Currency LT credit rating) to  ASCE Group
Armenia spares no effort for North-South energy corridor program to  be implemented in shorted period - minister Armenia spares no effort for North-South energy corridor program to  be implemented in shorted period - minister 
Turkey never agreed on construction of dams on Aras River with other  countries of basin - Ali Akbar MehrabianTurkey never agreed on construction of dams on Aras River with other  countries of basin - Ali Akbar Mehrabian
Armenia, Iran to consider to increasing gas supplies from Iran to  ArmeniaArmenia, Iran to consider to increasing gas supplies from Iran to  Armenia
Hayk Yesayan: Introduction of 5G in Armenia in the next couple of  years will be inexpedientHayk Yesayan: Introduction of 5G in Armenia in the next couple of  years will be inexpedient
Read more


Exchange rates
24.05.2022
RUB8.020.13
USD452.70-3.03
EUR484.71-1.87
GBP566.33-7.02
CAD354.06-2.68
JPY35.52-0.22
CNY68.01-0.26
CHF468.63-2.99