ARGENTINEAN BUSINESSMAN EDUARDO EURNEKYAN INVESTS $40 MILLION IN CONSTRUCTION OF GEOTHERMIC POWER PLANT IN ARMENIA

ArmInfo News Agency, Armenia
Nov 20 2006

Argentinean businessman Eduardo Eurnekyan, the concessioner of Yerevan
airport "Zvartnots," is investing $40 million in the construction
of the first geothermic power plant in Armenia, Armen Movsisyan,
Energy Minister of Armenia, told journalists in the course of his
working visit to Syunik region, Armenia.

The minister said the plant with 25 megawatt capacity is to be built
in Kyarkar volcanic valley in Sisian district, Syunik region.

Minister Movsisyan said the plant may be put into exploitation within
1-2 years. Preliminary estimations showed that the area has a big
potential of geothermic power that can be used for energy purposes,
the minister said.

On December 17 2001, the CJSC Armenian International Airlines
belonging to Eduardo Eurnekyan received concession of Yerevan airport
"Zvartnots." By present, the concessioner has invested about $100
million in the modernization of the airport. E. Eurnekyan is currently
negotiating for the control stock of Areximbank, which belongs to
Moscow Impexbank and other structures of Russian businessman Boris
Ivanishvili.

From: Emil Lazarian | Ararat NewsPress