Tashir Group to invest $ 90 million in distribution networks of  Armenia

ArmInfo. The Russian group of companies Tashir, which owns JSC Electric Networks of Armenia, plans to invest in the construction and modernization of Armenia's distribution networks.

"The investor plans to invest about $ 90 million in the modernization  of the electricity metering system, repair and construction of the  distribution networks in Armenia," the materials of the meeting  between Russian Prime Minister Dmitry Medvedev and his Armenian  counterpart Nikol Pashinyan in Moscow said.  To recall, on November  13, 2017 in Yerevan, the Tashir Group of companies, the company  "Electric Networks of Armenia" presented the investment program in  the energy sector of the Republic with the total volume of $ 1  billion in the framework of the initiatives of the "Investors' Club  of Armenia." In order to attract long-term loans for the  implementation of the investment program, the group "Tashir" and  "Electric Networks of Armenia" companies signed a number of  agreements with international financial organizations. Thus, a  protocol of intent was signed with the Asian Development Bank (ADB);  with the Eurasian Development Bank (EDB), an agreement was signed to  raise loans for up to $ 100 million; an agreement on technical  cooperation was signed with the International Finance Corporation  (IFC) and an agreement on bank support of investment program projects  with JSC Ardshinbank.