YEREVAN (ARKA)—Armenia’s Public Services Regulatory Commission (PSRC) will consider the sale of the Hrazdan Power Plant to the Russia-based Tashir Group, when it convenes for a regular meeting on October 9, according to reports that have emerged today.
According to a statement on PSRC’s official website, the Russian energy conglomerate Inter RAO, which currently owns the facility, asked the PSRC on September 22 to allow the sale of the Hrazdan Thermal Power Plant to Liormand Holdings Limited, a member of Tashir Group, which has already acquired Armenia’s national power distribution company.
The Hrazdan Thermal Power Plant is one of the six major electricity generating facilities in Armenia. In 2014, it accounted for 12.3% of electricity produced in the country.
The 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 Forbes Magazine at $4.5 billion, making owner Samvel Karapetyan is one of the world’s richest ethnic Armenians. Tashir Group has 45,000 people on its payrolls in 60 Russian cities and abroad.