Authorized capital of high-voltage electrical networks cut by 2.66 million drams

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23.10.2014, 16:59

The authorized capital of the state-run joint-stock company "High-Voltage Electrical Networks will be cut by 2.66 million drams, Deputy Minister of Energy and Natural Resources of Armenia Levon Shahverdyan said today.

Authorized capital of high-voltage electrical networks cut by 2.66 million drams

YEREVAN, October 23. / ARKA /. The authorized capital of the state-run joint-stock company "High-Voltage Electrical Networks will be cut by 2.66 million drams, Deputy Minister of Energy and Natural Resources of Armenia Levon Shahverdyan said today.

The decision was taken on Thursday by the Cabinet. According to the deputy minister, part of the company’s assets will be handed over to the Ministry of Foreign Affairs. He explained that the assets are in China, which, after completion of a joint project in 2013 would be too costly to transport to Armenia.

According to him, the assets in question will be transferred to the Armenian embassy in China.

The High Voltage Electrical Networks operates the closed ring-shaped network of high voltage transmission lines in Armenia with voltage of 220/110 kV. ($ 1 - 409.40 drams). -0--

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