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NEWS » Economy » Investments of “ArmRosgasprom in Armenia were about $700-750 million within 4 years – genaral Director
Economy

Investments of “ArmRosgasprom in Armenia were about $700-750 million within 4 years – genaral Director

21.10.2009, 16:49
“Investments of “ArmRosgasprom” in Armenia were about $700-750 million within 4 years”, said Karen karapetyan, general Director of CJSC “ArmRosgasprom” to the journalists on Tuesday.

YEREVAN, October 20. /ARKA/. “Investments of “ArmRosgasprom” in Armenia were about $700-750 million within 4 years”, said Karen karapetyan, general Director of CJSC “ArmRosgasprom” to the journalists on Tuesday.

He said that about $550 million were implemented by the main shareholder of “ArmRosgasprom”, the company “Gaspro”.

“Impressing results of “ArmRosgasprom” in the development of gas and energy sectors in Armenia became available due to consecutive and successful implementation of three-year program of additional emission of shares of CJSC “ArmRosgasprom”.

By the results of the emission “ArmRosgasprom” strengthened its position of being the largest stock company in the country”, said Karapetyan.

“ArmRosgasprom” is one of the largest companies in Armenia which implements such a volume of investments.

Investment program of CJSC “ArmRosgasprom” in Armenia for 2009-2011 makes 61.6 billion drams (all the prices are presented without VAT). According to the program only in 2009 investments will make 27.129 billion drams.

In 2009-2011 for the expansion of gas transport system it is planned to invest 16.23 billion drams, from which 16.147 billion in 2009. According to the approved investment program, for modernization and expansion of opportunities of Abovyan underground gas storage it is planned to invest 2.278 billion drams during three years, from which 1.083 billion drams in 2009.

For reconstruction of gas distribution network 7.106 billion drams will be invested, from which 2.315 billion drams in 2009 and for other expenses – 18.234 billion drams, from which 4.767 billion drams in 2009. CJSC “ArmRosgasprom” is a monopolist in the sphere of delivery and distribution of Russian natural gas in the internal market of Armenia.

Gas enters Armenia by transit through Georgia. The company is established in 1997. The share of Open JSC “Gasprom” in the charter capital is 80% and the share of the Government of Armenia - 20% ($1 – 386.57 drams).—0--
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