US EditionArmenian Government Blocks Needed Investment in Power Grid Ahead of Efforts to Seize the Company
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Armenian Government Blocks Needed Investment in Power Grid Ahead of Efforts to Seize the Company
YEREVAN (Azatutyun.am)—Armenia’s energy regulator has refused to allow the national electric utility owned by jailed businessman Samvel Karapetyan to invest an additional 7 billion drams ($18 million) in the country’s power distribution network ahead of its anticipated seizure by the government. The Electric Networks of Armenia operator was due to make 48 billion drams ($124 million) worth of capital investments this year in accordance with its …
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