Investment Projects were discussed with British Embassy Officials

08 Jan, 2019

On Thursday, December 27, the representatives of Energy Invest Holding CJSC (EIH) met with the Deputy Head of Mission/HM Consul of the British Embassy in Yerevan, Ms. Alison Chick and the Trade and Prosperity Officer of the Embassy, Mr. Artashes Davtyan. Among the topics discussed were the progress of the Shnogh Hydroelectric Project’s Feasibility Study, the construction of a Vocational Training Center, and development prospective of renewable and alternative energy sectors of Armenia.

It has been emphasized that Shnogh hydro power plant project has already attracted a considerable interest among several world-famous businesses that are willing to enter into the project equity and supply equipment of their own production, such as a US-based The Robbins Company which produces tunnel boring machines, the Austrian ANDRITZ HYDRO company which produces hydro- and electro-mechanical equipment for hydro power plants, etc. It was also noted that over 1,200 highly-paid jobs will be created during the construction period, and the hydro power plant will generate up to 7% of Armenia’s internal electricity consumption. A particular importance has been paid to the Environmental and Social Impact Assessment Study which will be conducted prior to embarking into this project.

As regards the Vocational Training Center, it has been mentioned that the purpose behind over 6-million US dollar-worth training center is the re-qualification of specialists currently working in the energy sector. This would enable hundreds of specialists to adapt to the new job market conditions and requirements, as well as to staff the energy companies with the qualified specialists. Taking into account the current highest standing of UK-based training centers, EIH has expressed its willingness to cooperate with some of them for adding value to the programs and courses which will be taught in the center and to conduct the final qualification exams for its trainees according to international standards.

At the end of the meeting Ms. Chick has assured the British Embassy’s support for promoting mutually-beneficial cooperation between Armenian and UK businesses.

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