New owner of ENA pledges to introduce ISO standards
YEREVAN, October 13. / ARKA /. The Russia-based Tashir Group, the new owner of the Electricity Networks of Armenia (ENA) through its Cyprus-based Liormand Holdings Limited, has pledged to introduce the international ISO standards within five years and improve the management of the utility, Armenian energy and natural resources ministry said today.
The ministry said after the acquisition of the company, the new owner has committed also to reduce at least by 2% technological losses of the company, which can play a significant role in improving the financial condition of the utility.
Under the takeover agreement, Tashir Group will not allow increased commercial losses from the 2014-2015 levels. Besides, it has committed to pay fully to producers of energy, as well as to services providing companies, the ministry said.
On September 30 Tashir Group, owned by ethnic Armenian businessman Samvel Karapetyan, confirmed the acquisition of ENA from Russian energy holding Inter RAO. Samvel Karapetyan was quoted as saying in a press release that order to support the population of Armenia, it was agreed that Tashir and the government of Armenia will be paying in equal parts for one year the difference between the electricity rate that was effective until August 1, 2015 and the increased rate for households and small businesses.
Tashir Group consists of about 200 companies, including 30 shopping malls and two dozen office buildings and hotels across Russia. With total assets estimated by the “Forbes” magazine at $4.5 billion, Samvel Karapetyan is one of the world’s richest ethnic Armenians.
The ENA is said to have more than $220 million in outstanding debts to Armenian power generating plants and commercial banks. It was sold to Russian Inter RAO in 2006 at $73 million by Midland Resources, a British-registered company.-0-
The ministry said after the acquisition of the company, the new owner has committed also to reduce at least by 2% technological losses of the company, which can play a significant role in improving the financial condition of the utility.
Under the takeover agreement, Tashir Group will not allow increased commercial losses from the 2014-2015 levels. Besides, it has committed to pay fully to producers of energy, as well as to services providing companies, the ministry said.
On September 30 Tashir Group, owned by ethnic Armenian businessman Samvel Karapetyan, confirmed the acquisition of ENA from Russian energy holding Inter RAO. Samvel Karapetyan was quoted as saying in a press release that order to support the population of Armenia, it was agreed that Tashir and the government of Armenia will be paying in equal parts for one year the difference between the electricity rate that was effective until August 1, 2015 and the increased rate for households and small businesses.
Tashir Group consists of about 200 companies, including 30 shopping malls and two dozen office buildings and hotels across Russia. With total assets estimated by the “Forbes” magazine at $4.5 billion, Samvel Karapetyan is one of the world’s richest ethnic Armenians.
The ENA is said to have more than $220 million in outstanding debts to Armenian power generating plants and commercial banks. It was sold to Russian Inter RAO in 2006 at $73 million by Midland Resources, a British-registered company.-0-