Tashir Group and Inter RAO Group have signed a sales and purchase agreement on electricity assets in Armenia.

The sides have agreed that ENA CJSC and Hrazdan TPP will continue complete fulfillment of commitments undertaken earlier, the press release disseminated by Tashir Group reads this.

“Tashir Group fully undertakes commitments for running Electric Networks of Armenia CJSC. Further plans include introduction of an anti-crisis program for optimizing financial operation of the company and step-by-step modernization of distribution networks equipment. To support the people, it was decided to reimburse the difference between the increased and former tariff in force up to August 1, 2015, at the personal expenses in par with the Armenian government, for individuals and small business”, stated President of Tashir Group Samvel Karapetyan.

Renaissance Capital analyst Vladimir Sklyar said to RBC Daily newspaper that “in another country Electric Networks of Armenia and Hrazdan TPP could cost around USD1bln”.

“However, taking into account the company’s huge debts and strong political pressure on tariff formation in Armenia, the sum of the deal would likely to “be closer to the zero”, he noted.