The Electric Networks of Armenia CJSC will make investments worth AMD 350 billion (around $730 million) by 2027, VAT exempt.

The Public Services Regulatory Commission (PSRC) on Wednesday, November 15 approved the ENA's revisions for 2017-2020 investment project and the new one, set for 2018-2027.

The programs envisage replacement and modernization of equipment in 6 (10) / 0.4 kV voltage networks, reconstruction and modernization of power lines in 35 - 0.4 kV voltage networks, including secondary electricity supply, network expansion and connection of new subscribers, installation of energy accounting system in 0.4 kV voltage networks, as well asintroduction of international standards of management and automated accounting systems.

As a result, company costs will be cut, losses will meet European standards, the number and duration of blackouts will twice decline, and voltage deviations will be excluded.

Electric Networks of Armenia operates as a subsidiary of Tashir Group of Companies, belonging to RUssian-Armenian billionaire Samvel Karapetyan.