YEREVAN. – In 2016, the capital investments of Electric Networks of Armenia (ENA) company have totaled a little more than 12 billion drams (approx. US$25 million). 

The aforementioned is noted in the ENA report, which company general director Karen Harutyunyan presented at a press conference on Thursday. 

A total of 26.05 percent of these capital investments is the utility costs, another 36.07 percent was spent on capital construction, and 14.88 percent was other investments. 

Harutyunyan added that ENA has continued to repay its loans, its long-term loans reduced between 2015 and 2016, and its main creditors are the Japan International Cooperation Agency and Ardshinbank of Armenia. 

“Negotiations are underway with the Asian Development Bank and the European Bank for Reconstruction and Development, regarding extensive modernization loan programs,” added the ENA chief. “[But] they will be agreed upon with the regulator, so that the [electricity] tariff burden will not be huge for subscribers.”