International corporation ITERA to implement investment programs in Yerevan

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Economy

25.03.2011, 02:57

Karen Karapetyan, Yerevan mayor, and Igor Makarov, board chairman of Russian oil and gas corporation ITERA, signed a cooperation agreement in Yerevan on Thursday, the press office of Yerevan municipality reports.

YEREVAN, March 24. /ARKA/. Karen Karapetyan, Yerevan mayor, and Igor Makarov, board chairman of Russian oil and gas corporation ITERA, signed a cooperation agreement in Yerevan on Thursday, the press office of Yerevan municipality reports.

Under this agreement, the corporation will implement investment programs in Yerevan.

Karapetyan said that the agreement would lay grounds for mutually beneficial cooperation.

“We are convinced that investment field is quite large here in the capital,” he said.

Makarov said that investment projects promise long-term and effective cooperation.

Under the signed agreement, Itera will implement investment programs in tourism, trade, infrastructure, services and other areas in Yerevan over a period between 2011 and 2016.

A new multifunction center and a hotel are planned to be built here by 2016.

The corporation will also build Noyland tourism center in Yerevan.

Consulting and other support is among the commitments the city authorities have assumed.

ITERA, a group of international companies, is one of independent producers and sellers of natural gas in CIS and Baltic countries.

ITERA implements industrial energy, gas-chemical and construction projects in Europe, Asia and the United States.

The corporation consists of 156 companies.-0---

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