Armenia invests $58 million for state electricity power grid

Armenia invests $58 million for state electricity power grid

2017-05-19


Armenia invests $58 million for state electricity power grid

The Armenian Ministry of Energy and Natural Resources reveals that the $ 58 million financial investment task for the contemporary Armenian grid system will be finished this year. The funds are anticipated to come from global companies and abroad loans and grants.

Inning accordance with Vartan Martirosyan, head of the credit and financing program, the Department has actually invested $ 3.2 million in the very first quarter of this year for grid modernization. Which $ 2 million was utilized to extend the life of the 2nd power plant in the Armenian nuclear reactor.

Martirosyan stated the department has actually advanced massive steps for the modernization of substations and restoration. Professionals and experts participated in agreements for the building of substations Yerevan TPP, Agarak-2, Shinuair, Ashnak, Akhtanak, Charentsavan-3 and Vanadzor-1, with an overall worth of $ 17 million, inning accordance with the outcomes of the worldwide tender.

Martirosyan kept in mind that a 230 km Hrazdan-Shinuair transmission line is presently under building and construction. The transmission lines for the Noraduz, Lichk and Vorotan-1 substations have actually been developed. The building of the Vardenis and Vaik areas will continue and is set up to be finished by 2017. He likewise stated it would invest $ 6.7 million for the building and construction of 110 kV Volawah and Novo Burnett overhead power lines.

Martirosyan included that the department is determining the outcomes of a global tender. The global tender reveals the choice of building and construction specialists for the Armenian-Georgian transmission line. Agreements with particular business will be checked in September 2017.