Romanos Petrosyan Issues Statement

The temporary manager of Armenia's Electric Networks, Romanos Petrosyan, stated on his social media page: "The central parking lot of HETC has been rented for years by someone close to the owners for a monthly fee of 12.7 million AMD. At the same time, a similar property owned by HETC (located in a more advantageous area in Yerevan) has been leased for years at a mere 127,000 AMD per month (exactly 100 times less) to a company linked to the owners that operates as a contractor for HETC. Both contracts have been suspended on our initiative, following established procedures. After a light renovation of the new central station and the upgrade of existing infrastructures, the HETC parking will be relocated to its own property in the coming days. As a result, the annual additional savings from HETC's financial resources will amount to over 150 million AMD, which will be directed towards infrastructure renewal," wrote HETC's temporary manager Romanos Petrosyan.