Inspection at High Voltage Power Grids Company reveals violations worth billions of drams

YEREVAN, November 10. /ARKA/. Armenia's Investigative Committee has initiated criminal proceedings after an inspection of the state-owned High Voltage Power Grids Company conducted by the State Oversight Service revealed a string of massive violations.

According to the press service of the State Oversight Service, the inspection recorded alleged violations and systemic problems to the tune of about AMD 10.7 billion (about $26.6 million), $2.6 million and €10.6 million, as well as an overestimation of the cost of a project as a result of its non-implementation to 146 million euros.

In order to eliminate violations, to solve the identified problems and restore funds to the state budget, the Oversight Service asked the Prime Minister to instruct the Ministry of Territorial Administration (as an authorized body) to hold discussions with the company and take appropriate measures.

The facts about the alleged crimes were submitted to the General Prosecutor's Office, which referred the crime report to the Investigative Committee. On November 3, 2023, on the basis of the above-mentioned materials, the Investigative Committee initiated criminal proceedings.

The state-owned High Voltage Power Grids operates a 220/110 kV closed ring-shaped network of high-voltage power lines in Armenia. The Lori wind power plant with 4 units with a total capacity of 2.64 mW is also on the company's balance sheet. The main functions of High Voltage Power Grids are transmission of electric power (capacity) in Armenia, transit of electric power to third countries, carry out research and design work for construction of power facilities and transmission lines. --0--