Armenian water-sewerage company to implement several programs with WB, ADB and EBRD for total $92 million

YEREVAN, September 17. / ARKA /. Armenian Water-Sewerage Company implements a number of programs in Armenia in conjunction with the World Bank, Asian Development Bank and European Bank for Reconstruction and Development for a total of $ 92 million, General Director of CJSC Armenian Water-Sewerage Company Patrick Loren said at a news conference on Tuesday.

“The means of the Asian Development Bank, amounting to $ 46 million, will be directed to the rehabilitation program of water supply in 18 towns and villages of Armenia,” the CEO of the company said.

He noted that 10 out of 18 sub-programs are already under implementation.

The program is scheduled to be completed by 2010.

According to Lorena, the means of the World Bank, in the amount of $ 26 million, are planned to be spent on the technical equipment.

”In addition, Razdan city's water supply program will be implemented under this credit program,” the general director of Armenian Water-Sewerage Company.
He stressed that this is the second credit program with the World Bank.

Loren also stressed that an amount of $ 20 million, which is under the EBRD, is planned to be spent to work on the purification of water in the basin of Lake Sevan.
In 2004, following a tender, the administrative manager of CJSC Armenian Water-Sewerage Company became the French SAUR company.

Currently, the company has 4 territorial branches with centeres in Sevan, Abovyan, Sisian, and Artashat.

Revenues of the Armenian Water-Sewerage Company in Armenia, amounted to 2.7 billion drams in 2008 against 1.1 billion drams in 2005.

During the four years of its existence, the company’s total investments amounted to $ 15 million at the expense of the borrowed funds, and the 700 million drams from its own resources in Armenia.

Two hundred and seventy thousand subscribers have been registered in the Customer service of the company, which amounts to about 1 million people in 268 villages and 37 towns.

In 2008, the company had been granted government subsidies amounting to 1,366 billion drams, which fell to 863 million drams in January 2009.

The rates for the Armenian Water-Sewerage Company for providing with water services was increased from 140dramov to 179.78 drams per 1 cubic meter of drinking water (including VAT) from April 1.($ 1 - 377.17 drama). –0-