Investors Club launches two $250 million worth projects
18.10.2017,
15:18
The Armenian Investors Club, created with the support of Russia-based ethnic Armenian businessmen, has launched two projects worth $250 million, economic development and investments minister Suren Karayan told journalists on Wednesday.
YEREVAN, October 18. /ARKA/. The Armenian Investors Club, created with the support of Russia-based ethnic Armenian businessmen, has launched two projects worth $250 million, economic development and investments minister Suren Karayan told journalists on Wednesday.
One is the construction of Shnokh hydro power plant on the river Debed in the northern Lori province. Its planned installed capacity is 76 MW. According to preliminary data, the project cost is estimated at $150 million. The second project is the construction of a solid waste processing plant.
On August 10 the Armenian government approved a framework agreement on the design, construction, financing and operation of the Shnokh hydro power plant, which is supposed to cover about 5% of domestic energy consumption.
Overall, the Investors Club is said to make $300 million worth investments in the Armenian economy this year. The bulk of the investments will be channeled into energy, mining and processing industries, the sectors which are declared by the government as priorities.
Russia-based businessmen of Armenian descent issued a statement in January announcing their support to implementation of profound reforms in Armenia and their intention to partner with the government in the carrying out of various initiatives and business programs.
Investors Club, a non-public contractual investment fund registered with the Central Bank of Armenia. Its major goal is to involve domestic and foreign private funds to promote important sectors of Armenian economy: energy, including alternative energy, tourism, mining, ore processing, food and light industries. The fund is managed by Fora Capital LLC. --0--
One is the construction of Shnokh hydro power plant on the river Debed in the northern Lori province. Its planned installed capacity is 76 MW. According to preliminary data, the project cost is estimated at $150 million. The second project is the construction of a solid waste processing plant.
On August 10 the Armenian government approved a framework agreement on the design, construction, financing and operation of the Shnokh hydro power plant, which is supposed to cover about 5% of domestic energy consumption.
Overall, the Investors Club is said to make $300 million worth investments in the Armenian economy this year. The bulk of the investments will be channeled into energy, mining and processing industries, the sectors which are declared by the government as priorities.
Russia-based businessmen of Armenian descent issued a statement in January announcing their support to implementation of profound reforms in Armenia and their intention to partner with the government in the carrying out of various initiatives and business programs.
Investors Club, a non-public contractual investment fund registered with the Central Bank of Armenia. Its major goal is to involve domestic and foreign private funds to promote important sectors of Armenian economy: energy, including alternative energy, tourism, mining, ore processing, food and light industries. The fund is managed by Fora Capital LLC. --0--
