RUSSIA TO DOUBLE INVESTMENT IN ARMENIA

RosBusinessConsulting, Russia
Sept 25 2007

RBC, 25.09.2007, Moscow 13:44:09.Russia’s investment in Armenia
is estimated at $800m, Russian Prime Minister Viktor Zubkov told a
press conference after negotiations with his Armenian counterpart
Serge Sarkisian today. According to Zubkov, both parties entertain
hopes of doubling that amount in near future by implementing joint
projects in various sectors, including energy. Russia has established
strong economic ties with Armenia, the Russian PM noted, as the two
countries have plans to build an oil refinery on Armenian territory
and modernize its existing nuclear power units.