President Serzh Sargsyan on Saturday, April 23 attended the launch of new production facilities at Cascade holding, a Tashir Group affiliate, designed for the production of high-quality electrical equipment.

By launching companies for production of modern electrical equipment, the Electric Networks of Armenia (which belongs to Tashir Group) enters the first stage of its anti-crisis program aimed at a phased modernization of the electricity distribution installations, optimization and strengthening of control over ENA’s financial and economic activity.

Total investment cost of the project stands at $20 million.

The project envisages 500 new jobs, eyeing the production of electricity meters and other equipment.