$ 1.5 Billion Investment Projects to Be Implemented

Today a regular session of Investment Committee was held in the Ministry of Energy Infrastructures and Natural Resources chaired by Minister Ashot Manukyan. The Ministry officials and leaders of state-owned companies under the jurisdiction of the Ministry briefed on the process of implementing 2017-2019 investment projects, on tasks and issues being implemented in 2017.

According to Artur Baghdasaryan, "High Voltage Electric Networks" CJSC General Director, the Iran-Armenia third transmission line construction works are progressing according to schedule. 672 plots of soil and pillars construction permits in 60 communities were purchased with around $ 76 million. Metal constructions of pillars with total weight of 1965 tons were imported and stored, 100 km access roads were built, and marking works of all 706 pillars were completed. Necessary 12 ha area for Noravan substation was purchased for around 33 million Euros. A fence was built; the foundation of the management building was dug.

Artur Baghdasaryan has informed that the submitted applications for tender announced to choose contractor organizations for the construction of Armenia-Georgia overhead power line and high voltage direct current transformer stations are in the evaluation phase. 188 million Euro project is planned to complete in 2019. 

The reconstruction works of substations "Haghtanak", "Charentsavan", "Vanadzor-1", "Agarak-2","Shinuhayr" and "Ashnak" are in process, the investment amount of which is $ 20.5 million USD.  Indian "Kalpataru" group continues the construction within $26.5 million USD project of the construction of "Hrazdan-Shinuhayr" 220 kV overhead line. At the expense of project savings "Noyemberyan-Lalvar" overhead power line will be built, the construction of which will start in spring.

At the session Sasun Khachatryan, the General Director of "Yerevan TPP" CJSC, represented the implementing process of 18 million USD reconstruction and modernization project of the TPP substation. He also informed that the negotiations with Italian RENCO group on the construction of Yerevan TPP Unit 2 with combined-cycle are almost over. Preliminary project cost is $230 million USD.

As reported Movses Vardanyan, General Director of Armenian Nuclear Power Plant, extension works of exploitation period of ANPP Unit 2 will be completed in 2019. $300 million USD is provided for the project.

"Geothermal Exploration drilling" and "Energy saving" projects with total cost of $ 126 million will continue in 2017. As reported Deputy Minister Hayk Harutyunyan it is planned to carry out over $ 190 million USD cost projects to increase energy savings and energy efficiency financed by international and donor organization funds in the next three years.

"Contour Global" company planned to invest over $80 million USD to reconstruct and modernize Vorotan HPPs Cascade.

Introducing the process of construction of Vedi reservoir, Volodya Narimanyan, Deputy Chairman of the State Committee of Water Economy has informed that the construction of the reservoir will start in spring.  The 95 million USD project will be implemented by the Consortium of Iranian and Armenian companies. According to him Getalich-Kaghtsrashen, right wing of Meghri, Baghramyan-Norakert water lines also will be built. These investments will cost $20 million USD.

Touching upon the investment projects in mining field the Deputy Minister  Vardan Gevorgyan has informed that Lydian-Armenia, Teghut and GeoProMining Gold groups will make 250 million USD investments.

As reported Karen Ghahramanyan, Chief of Staff of the Ministry Electric Networks of Armenia CJSC will invest more than $40 million USD in modernization of distribution networks. According to him system enterprises will implement 1.5 billion USD worth investment projects in upcoming years.

“I’d like to draw your attention on the fact that the abovementioned programs in the energy sector are interrelated. The efficiency of each program depends on the overall volume of their implementation, which in its turn will contribute to increasing the efficiency and reliability of the country’s energy sector. Therefore it is extremely important to maintain/ keep the time schedule and quality of work. Numerous new jobs will be created by these programs”.