ALMOST ALL CREDIT AGREEMENTS WITH ‘ELECTRIC NETWORKS OF ARMENIA’ TO BE IMPLEMENTED: COMPANY DIRECTOR GENERAL

ArmInfo
2009-01-27 11:24:00

ArmInfo. Despite the global financial crisis, almost all the credit
agreements in 2009 will be implemented, Director General of "Electric
Networks of Armenia" Yevgeniy Gladunchik told ArmInfo. He said, only
the conditions of credit extension, which are good enough for the
management of the electric networks, have changed. ‘We are not going
to acquire Rolls- Royce’, all the funds will be purpose-oriented>,
director general said and recalled that the matter is concerning
the credit agreements with HSBC Bank Armenia to the sum of $5 mln,
with BTA Armenia Bank to the sum of $70 mln.

The total three-year investment programme of ‘Electric Networks of
Armenia’ CJSC makes up $170 mln. In general, the director general
positively assesses the results of 2008 during which a great work was
done. In particular, a serious work was done for equipment replacement
which will be completed in 2009.

From: Emil Lazarian | Ararat NewsPress