Tashir commissions a plant producing advanced electric equipment in Armenia

Multi-profile Kaskad Holding, part of Tashir Group, starts a series of facilities producing high-tech electric equipment for an automated distribution networks electricity metering system. The plants will manufacture the latest certified electric equipment for industrial and civil use by Electric Networks of Armenia. The plant production capacity will total 250,000 units per year. Tashir has invested a total of 20M USD in the project.

Serzh Sargsyan, the President of Armenia, the minister of energy of Armenia Levon Eolyan, chairman of the commission on regulation of public services Robert Nazaryan, and other officials visited the grand opening of the plant in Yerevan.

Start of the new plants became the first step in an anti-crisis program announced in September 2015 by Samvel Karapetyan, the company's new owner. The campaign’s aimed at step-by-step modernization of distribution network equipment, company's finances optimization, and stronger control of financial and economic operations within CJSC Electric Networks of Armenia. Production facilities are located in Shengavit district of Yerevan. According to the enterprise development plans, about 500 new jobs will be created soon.

“Beside attracting investments and adding new jobs, the project is of special economic significance for us. We hope to prove that Armenia is the right place to do business and invest money,” noted Samvel Karapetyan, President of Tashir Group.

Two facilities have been commissioned: one to manufacture electricity meters and the other, to produce meter cabinets for the automated commercial electricity metering system (ASKUE) which is a joint project with Russia’s leading developer in the area, Systems and Technologies ETC CJSC. The new innovative equipment will allow both managing electricity usage and automating data collection from meters, thus significantly increasing power usage measurement accuracy and minimize options for power waste and fraud allowed by technical imperfections. Automated commercial electricity metering system enables power consumption records on house, district or city level from a single dispatcher and financial center.

Besides, Tashir Group is planning to start the third line of production soon, to manufacture low-voltage distribution cabinets.

Sergey Pogosov, Board Member, Kaskad Holding, comments: “I am proud to say that, within a tight schedule, we have built the country’s first plant to manufacture modern, competitive energy equipment to match global standards. Electronic power meters employed by Electric Networks of Armenia are outdated and fail to meet contemporary requirements. Creating a new production facility is a big step forward on our way to modernize the company's equipment and optimize corporate costs. Moreover, the new metering systems are an important contribution to wireless system development in Armenia's power supply network.

For over a decade now, Tashir Group has been aggressively developing its business in energy industry; it develops and supplies holistic, efficient infrastructural solutions for Russian cities, industrial enterprises, urban developments, civil and residential facilities. The holding’s priorities include serial production of modern electric equipment for both industrial and civil use. Some of the models manufactured at the high-voltage equipment plant in Kaluga are unprecedented in Russia.