VUJE TO BUILD 15 SMALL HYDROPOWER PLANTS IN NKR

Noyan Tapan
Jan 22, 2008

YEREVAN, JANUARY 22, NOYAN TAPAN. VUJE company specialized in
construction of energy facilities will build 15 small hydropowere
plants in the Nagorno Karabakh Republic. The chairman of the
Representation of Armenian Organizations in Europe Ashot Grigorian
said at the January 22 press conference that the agreement on it
was reached during a recent meeting of the delegation of the NKR
and that of the Slovak Republic that came on a three-day visit
to Armenia. According to him, VUJE’s representatives will visit
Artsakh in February-March in order to familiarize themselves with
the conditions of construction work on the spot. In his words, VUJE
is one of the first European companies to express readiness to make
investments in Artsakh. A. Grigorian announced that the company also
intends to build two small hydropower plants in Armenia.

The executive director of VUJE Milan Ferenc indicated the availability
of good opportunities for implementation of the company’s future
programs in Armenia.

A. Grigorian said that Eximbank (Slovak Republic) intends to provide
credits of 30-50 million euros to Armenia. According to him, these
credits will carry an average interest rate of 6-9% with repayment
period of 5-10 years and will be used for promotion of the export of
Slovakian goods to Armenia.

It was stated that during the meeting of delegation members and
the Armenian defence minister, the sides agreed to sign soon an
agreement on military cooperation between the Republic of Armenia
and the Slovak Republic.

A. Grigorian said that the head of the delegation, former prime
minister of Slovakia, chairman of the Slovakian-Russian Union Yan
Carnogursky stated the "the Christian world must show activity in the
issue of Artsakh as well". By the way, he made a great contribution
to adoption of the resolution on recognition of the Armenian Genocide
by the Slovakian parliament.