Investments in Armvodokanal to fetch nearly amd 4 bln this year

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Economy

08.06.2012, 16:10

Armvodokanal (Armenian water canal) company may receive nearly 4 billion drams ($9.7 million) in investments this year, the CEO Patrick Lorin said on Friday.

Investments in Armvodokanal to fetch nearly amd 4 bln this year

YEREVAN, June 8. /ARKA/. Armvodokanal (Armenian water canal) company may receive nearly 4 billion drams ($9.7 million) in investments this year, the CEO Patrick Lorin said on Friday.

He noted that the investments this year are expected to be allocated in loans attracted by the Armenian government from some international financial structures.

Even though the investments in 2012 are outlined to be less than last year ( 6.2 billion drams or over $15 million), this fact will not create any obstacles for the company to continue implementing its programs, he added.

According to him, this year the company is planning to open new “hot line”- 8171 for its clients, that will enable them to tell the monthly indicators displayed by their water meters.

He also highlighted that the company intends to increase the daily water supply to 16 hours instead of the previous 15 hours.

“SAUR” S.A. French company has been running Armvodokanal CJSC since 2004. In 2011 the contract was extended to 2013 with an option of the further extension for one more year. The company operates in 37 towns and 268 communities of the ten regions of Armenia.

The investments in Armvodokanal totaled in $100 million within 2004-2011. The analogical amount is estimated for the next five years. —0—

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