In the next 10 years, $ 872 million will be invested in upgrading the grid facilities of "Electric Networks of Armenia" JSC

ArmInfo. In the next 10  years, $ 872 million will be invested in the modernization of the  grid facilities of CJSC "Electric Networks of Armenia", part of the  Russian Tashir Group. This was announced by the Vice-President of the  Tashir Group of Companies, Directors of "Electric Networks of  Armenia" CJSC Karen Darbinyan.

According to him, the program will be half financed by international  financial institutions, and the other half will be financed from  Tashir's own funds. The project includes 6 directions. It is  necessary, in particular, in all regions of the republic (with the  exception of Yerevan, where there are problems related to town  planning) to completely replace all cable lines, substation  equipment, air lines, and settlement equipment. In particular, the  equipment of electric substations with voltage of 6-10 / 04 kV will  be modernized, for which $ 267 million will be directed, 35-04 kV  overhead transmission lines ($ 238 million), power lines ($ 115  million), repair and reconstruction works $ 13 million), an automated  electricity metering system ($ 201 million) was introduced, ISO  standards ($ 37 million) were introduced.  The program will be  implemented in three phases - until 2021, from 2021 to 2025, and from  2025 until 2028. During each of these stages, the company has  obligations to improve the loss performance, reduce the timing of  eliminating accidents, eliminating voltage surges.

Funds for the implementation of the program will be attracted from  the European Bank for Reconstruction and Development and the Asian  Development Bank, with the Eurasian Development Bank an agreement on  attracting $ 100 million has been signed. Negotiations are also  continuing with other financial institutions - banks of the  Netherlands, IFC and others. "Within the next year, all sources of  attracting $ 450 million will be clarified," Karen Darbinian said,  adding that the project will improve the quality of electricity  supply and improve the quality of services provided. One of the most  important tasks will be the replacement of equipment, 80% of which is  morally and physically obsolete. At the same time, as the Chairman of  the Board of Directors noted, 80% of all new equipment will be  produced in Armenia. To solve this problem, about $ 100 million will  be channeled. In particular, in 2018-2019. a new cable factory, a  factory for the production of switches will be established, and an  enterprise for the production of electric meters will be expanded.  Moreover, the products produced in Armenia will be used in the  Russian Federation, where the Tashir Group of Companies is launching  a number of programs in the energy sector.

It should be noted that in order to attract long-term loans for the  implementation of the investment program, the Tashir Group and  Electric Networks of Armenia signed a number of agreements with  international financial organizations. For example, an agreement of  intent was signed with the Asian Development Bank (ADB), an agreement  was signed with the Eurasian Development Bank (EDB) on attracting  loans for up to $ 100 million, an agreement on technical cooperation  was signed with the International Finance Corporation (IFC)  Ardshinbank "agreement on bank support of investment program  projects. Earlier in July of this year, agreements on borrowing with  ADB and the European Bank for Reconstruction and Development (EBRD)  were signed for a total of $ 160 million. 

The Tashir Group of Companies is a multidisciplinary group of  companies of the federal scale, founded in 1999 and uniting more than  200 companies in various sectors of the Russian economy, including  construction, manufacturing, financial and energy industries,  development, retail and entertainment. The total number of employees  exceeds 45,000 people. The geography of activity covers 25 cities of  Russia and the near abroad. The founder and president of the company  is Samvel Karapetyan. The head office is located in Moscow. The core  business of the group of companies is the development and management  of commercial real estate, with priority being commercial real  estate. - the leader of the Russian market of development,  the creator of modern, high-tech facilities in the field of  commercial and residential real estate, the total area of which is  about 2.5 million square meters.  CJSC   carries out activities on transmission and distribution of  electricity in the territory of the Republic of Armenia, and also has  a license for the export and import of electricity to the Republic of  Georgia. According to the RA law "On Energy", the Company is the only  person in the country with which all other legal entities and  individuals have the right to conduct transactions for buying or  selling electricity. The company serves about 1 million consumers, is  one of the largest taxpayers and the largest employer of the country.