GeoProMining co-financed gas pipeline construction in Armenia’s Sotk
14.11.2012,
13:06
GeoProMining, a diversified international mining group (GPM), said Wednesday it was co-financing the construction of a gas pipeline in the village of Sotk in Gegharkunik region of Armenia.
YEREVAN, November 14. /ARKA/. GeoProMining, a diversified international mining group (GPM), said Wednesday it was co-financing the construction of a gas pipeline in the village of Sotk in Gegharkunik region of Armenia.
“In 2012, as a part of the corporate social responsibility program Resources for Good, GPM invested 30 million drams (75,000 USD) in this project,” the company said.
In early 2012, following the negotiations with the local authorities of Sotk, the gas pipeline project was chosen as a priority. Supoorting development of socio-economic infrastructure in the regions is one of the main directions of the Resources for Good program.
The Zod mine is the only major industrial entity in the area, where the village is located. Some 30 employees of the mine live in the village, and the company regularly provides assistance to Sotk residents.
“Gas supply will not only improve the life of Sotk, but also will help to solve the environmental problem - to reduce the use of wood for heating homes and public facilities,” according to the source.
Resources for Good program aims to ensure the sustainable development of the regions, where the company operates.
“Selecting projects, we take into account the needs of local communities, so, along with educational projects, GeoProMining is paying serious attention to the development of socio-economic infrastructure”, said GPM President Roman Khudoliy.
GeoProMining was founded in 2001. In Armenia it owns two assets – the Agarak Copper-Molybdenum Combine and GPMGold, developing the Sotk gold mine and running Ararat gold recovery factory. In the past two years it has invested more than $260 million in its Armenian assets.-0-
