ARMRUSGASPROM BREAKS AGREEMENT CAUSING EXTENSIVE DAMAGE TO GREENHOUSE INDUSTRY OF GYUMRI

YEREVAN, MAY 18, NOYAN TAPAN. The company ArmRusgasprom cut off in
January the gas supply to the greenhouse industry of Gyumri due to
its debt of 2.3 mln drams (about 5 thousand USD), as a result of
which the industry suffered losses of 61 mln drams. According to
chairman of the union “Pak Grunt” Poghos Gevorgian, vegetable seeds
were sown in the greenhouse in December, but the young growths were
completely destroyed in January when the gas supply was cut off. A
suit demanding compensation for the damage caused was filed against
the company. The agreement signed between the sides only envisages
fines against the unpaid debt. In the winter, the greenhouse paid
to ArmRusgasprom 2.8 mln drams from the total debt of 5.1 mln drams
owed for the consumed gas due to lack of money. P. Gevorgian told
NT correspondent that the greehouse is one of the most conscientious
subscribers of ArmRusgasprom and has paid a total of 45 mln drams in
the last four years. Gyumri greenhouse industry was set up in 2001
and initially covered an area of 1.5 thousand sq. meters. Later it
was extended to a 1-ha area by using loans and profits. However, the
greenhouse has to be dismanteled and its equipment sold because it is
unable to redeem the loans received. In particular, in 2004 alone,
a 66,000-dollar loan with a 3-year maturity was received from the
Eurasia Foundation. According to P.Gevorgian, the situation has a
negative impact on the attraction of foreign investments to the other
greehouses. For instance, several Iranian businessmen had an intention
to make investments in the 6-ha greenhouse of Ddmashen village. Yet
they changed their mind after learning the above mentioned facts.