YEREVAN (ARKA)—Tashir Group, the new owner of the Electric Networks of Armenia, intends to modernize the company and root out corruption, Tashir Group President Samvel Karapetyan said in a statement posted on the official website of the Electric Networks.
The purchase deal was sealed by Tashir Group and Inter RAO on September 30, 2015 and has already been approved by the Armenian government and the Public Services Regulatory Commission.
The Electric Networks will continue fulfilling its contractual obligations to the full extent while Tashir Group has assumed all obligations related to the company management.
Karapetyan says Tashir will run the company transparently, and its management will be understandable to the public.
He points out the implementation of a bailout plan, financial activity optimization, improvement of services and control over financial and economic activities by introducing advanced technologies as top-priority objectives for developing the company.
“First of all, we are going to modernize the infrastructure of power-supplying networks by making effective investments,” Karapetyan said in his statement. “We will combat vicious phenomena, corrupted employees and unfair consumers in an uncompromising way.”
He also adds that the new managers will cut the company’s expenses by mobilizing inside resources and lessening electric energy losses. As a result, Tashir will attempt to avoid further increases in electricity prices.
“[The] interests of three million people are surely important to us, and they can’t be compared to [the] benefit or interests of some corrupted employees and unfair consumers,” he said.
Karapetyan also said that he personally would subsidize the difference between the previous and current price for electricity for consumers and small businesses, as well as using government funds on a parity basis.
“We are ready for new approaches, a new quality of work and honest and constructive partner relations,” he says.
The Electric Networks of Armenia is the sole distributor of electric energy in Armenia. The company also exports electric power to Georgia and the Nagorno-Karabakh Republic.