Yerevan /Mediamax/. “Electric Networks of Armenia” CJSC (ENA) has elaborated two crisis prevention programs, which will allow the company avoiding shocks and employee reduction, General Director of ENA Yevgeni Gladunchik stated in Yerevan today.

Mediamax reports that, speaking at a news conference in Yerevan today, Yevgeni Gladunchik informed that ENA will be forced to renounce a number of projects in 2009 because certain companies, which had applied for electricity supplies, have refused to invest in Armenia because of the global financial-economic crisis.

At that ENA General Director stressed that the Company will not renounce the current projects on increasing the quality of electricity supply and on electrification of dwellings or industrial objects.

The volume of ENA investments in 2007 made 12bln AMD. “Consumption of electricity by the population in 2008 increased for 5%, but a decline is observed in industry following the results of the year, because certain large enterprises have been idle”, Yevgeni Gladunchik stated.

Talking about the results of the year, he noted that modernization of outdated equipment and substitution of cable lines are still in process in Yerevan.

Yevgeni Gladunchik stated acute shortage of young personnel in ENA. According to him, to solve the given problem, the company has launched cooperation with Armenia’s State Energy College and State Engineering University.