Artsakh Hydropower plant earns 240 million Drams in net profit in first quarter

|

USD

392.34

EUR

427.93

RUB

4.6774

GEL

141.48

Economy

03.05.2010, 19:37

Artsakh Hydropower plant open joint stock company earned 240 million Drams in net profit in the first quarter of 2010, its CEO Vahram Beglarian said at the annual meeting of its shareholders, the first after its IPO.

YEREVAN, May 3, ARKA/. Artsakh Hydropower plant open joint stock company earned 240 million Drams in net profit in the first quarter of 2010, its CEO Vahram Beglarian said at the annual meeting of its shareholders, the first after its IPO. He said electrical power production has grown year-on-year by 88% to 58 million KWh.

Starting April 6, 2010, Armswissbank began providing buy and sell prices for the stocks of Artsakh Hydropower Plant (HPP) company, that has been listed on NASDAQ OMX Armenia since October 29, 2009 under ticker symbol AHEK.
Nasdaq OMX Armenia said earlier a total of 5,962,074 common nominal stocks of the company with nominal value of AMD 1,000 were included in the B list of the stock exchange.

Vahram Beglarian said Trkhi-2 hydropower plant will be commissioned by the end of this year. In 2011 construction of two other hydropower plants-Madakhis-1 and Madakhis-2 is expected to be over as construction of Trkhi-2 will continue. Artsakh hydropower plant is the largest power production facility in Nagorno-Karabakh accounting for 50% of local power needs. -0-

Armenia aims to connect itself with both EEU, EU, Arab, Asian and other markets by "numerous threads" - Papoyan

Armenia seeks to connect its economy with the Eurasian Economic Union (EEU) market as well as the EU, Arab, Asian and other markets with as many threads as possible, Minister of Economy Gevorg Papoyan said.

17.03.2025 17:16

S&P expects Armenia's economic growth to halve in three years

Over the next three years, growth in Georgia and Armenia will almost halve, from 9.4% and 8.8%, respectively, in 2022-24, but will remain sustainable, according to a commentary by S&P Global Ratings analysts, as reported by FrankMedia.

14.03.2025 10:26

Dynamics of the decline in exports and imports in Armenia will last throughout the first half of the year – EDB

The decline in the value of exports and imports in Armenia in January by 49.2% year-on-year (y/y) and 33.5% y/y, respectively, was due to the fact that the positive impact of foreign trade in precious metals had been exhausted.

13.03.2025 15:00

Armenia's position in the “2025 index of economic freedom significantly worsens”

Armenia ranked 57th out of 184 countries in the 2025 Index of Economic Freedom, published by the Heritage Foundation.

12.03.2025 12:25

Freight traffic in Armenia grew by 12.9% in January, passenger traffic declined by 20.8%

The total freight traffic in Armenia in January 2025 amounted to 1,117.6 thousand tons, increasing by 12.9% compared to January 2024, while the total passenger traffic amounted to 12,728.6 thousand with a 20.8% decline, according to the National Statistical Committee.

10.03.2025 17:22

Risk assessment and portfolio diversification: CEO of Armenian company Cube Invest about myths and real features of investing

To form a successful investment portfolio, two main steps should be highlighted, said Mikael Margaryan, CEO and Chairman of the Board of Directors of the investment company Cube Invest.

10.03.2025 13:53

Service sector in Armenia grows by 12.6% in the first month of 2025, exceeding 280 billion drams

The volume of the service sector in Armenia in January 2025 amounted to 280,031.8 million drams (at current prices), showing an increase of 12.6% compared to January 2024 and 19.7% compared to December 2024.

10.03.2025 13:03

Domestic trade turnover in Armenia in January amounted to 39 billion drams with a growth of 9.9%

Domestic trade turnover in Armenia in January 2025 amounted to 379,155.1 million drams (at current prices), marking an increase of 9.9% compared to January 2024 and a decrease of 51.8% compared to December 2024, according to the National Statistical Committee of Armenia.

10.03.2025 12:14