Armenian gov't plans to acquire 100% of Electric Networks of Armenia

The Armenian government has proposed transferring 100% of the shares of Electric Networks of Armenia, owned by businessman Samvel Karapetyan, to the state, with the expropriation process to be completed by October 1, 2027.

According to Report, citing Armenian media, consideration of the application will continue until September 24.

Under the draft, the Republic of Armenia would acquire the shares, while the Ministry of Territorial Administration and Infrastructure would coordinate the expropriation process.

The process is expected to begin by July 1, 2027.

The document states that the move is aimed at ensuring state and public security, protecting the rights and legitimate interests of consumers, maintaining uninterrupted electricity supply to the population, and ensuring the normal operation of social and strategic facilities.

The owners would receive prior and equivalent compensation in accordance with Armenian law.