It is expected to Boost Investment Projects in the Energy Sector

More than 58 million USD worth investment projects are expected for the modernization and reconstruction of Armenia's energy system by the means of loan and grant funds provided by foreign countries and international organizations this year.

   According to Vardan Martirosyan, the head of Loan and Grant Projects Department of the Staff of the Ministry of Energy Infrastructures and Natural Resources around $ 3.2 million investments were made in the first quarter. The works implemented within ANPP Unit 2 Lifetime Extension Program cost more than $ 2 million USD.

“Small volumes of investments made by the means of loan and grant projects in energy system early this year are related to the seasonal factors. On the other hand, a part of the planned investment projects is in the beginning stage of the construction”, said Vardan Martirosyan. 

  Large-scale modernization activities are planned for the reconstruction of substations in energy system in the near future. As a result of the international competition "Yerevan TPP", “Agarak-2”, “Shinuhayr”, “Ashnak”, “Haghtanak”, "Charentsavan-3", “Vanadzor-1" contractor organizations and work monitoring consultant agreements were signed. Currently the planning works are in process, and the construction will mainly start in the second half of this year. About $17 million USD investments are expected in 2017.

The construction of about 230 km long Hrazdan-Shinuhayr power transmission line is in process. The construction of Noraduz, Lichk and Vorotan-1 overhead power lines was already completed and put under the voltage.  The construction works of the areas of Vardenis and Vayk are in process and are expected to be completed in 2017. The construction of around 50 km long overhead power lines "Lalvar" and "Noyemberyan" with capacity of 110 kW is in the designing phase with the means of saved funds. Within the project more than USD6.7 million-worth investments are expected current year.

 The evaluation process of the applications of the international tender for the selection of the contractor organizations for the construction of Armenia-Georgia transmission line and relevant substation is in process. According to the schedule, the summary of the application evaluation and the signing of agreements with the selected main contractors are expected in late September, 2017”, said Vardan Martirosyan.