YEREVAN. – The Government of Armenia managed to save money on the major overhaul of the Gyumri 2 substation, and within the framework of the loan program by the German government-owned KfW Development Bank.

Accordingly, €1.47 million from the €14.6 million-loan were managed to be saved.

This substation was connected to Armenia’s energy grid in February 2014.

With the money saved, they wish to acquire machinery (a crane and several other equipments) for the substation. 

The respective decision was accepted at Thursday’s Cabinet meeting.