Electric Networks of Armenia plans to up investment program 14% in 2013
YEREVAN. Nov 28 (Interfax) - CJSC Electric Networks of Armenia (ENA), a 100% subsidiary of Russian energy company Inter RAO UES , plans to boost investments in development by 14.3% to 9.6 billion dram in 2013, according to the company's investment program, which has been submitted for approval by the Public Services Regulatory Commission and published on the commission's website.
ENA will channel these investments towards maintaining its electrical structure, raising the quality of the electricity it supplies and hooking up new consumers.
The company plans to invest 8.4 billion dram in 2014 and about 8.3 billion dram in 2015.
ENA owns and manages distribution grids of medium and low voltage and holds an exclusive license to transfer and distribution electricity in Armenia. The company services about 950,000 consumers.
The official exchange rate on November 28 was 406.32 dram/$1.
