"ARTSAKH HYDROELECTRIC POWER STATION" PROGRAM HAS NO PRECEDENT IN ARTSAKH AND ARMENIA
By Kim Gabrielian
AZG DAILY
07-03-2009
Artsakh, economy
The presentation of the primary distribution of shares of Artsakh
Hydroelectric Power Station open joint stock company took place
recently in Stepanakert.
The company was founded in November 2007. NKR Government is the holder
of the company’s 100 percent shares. The company’s charter capital
is AMD 5 billion 100 mln. It made profit during the last two years,.
It is planned to build three other hydroelectric power stations in
Artsakh in the coming two years.
The construction works of the hydroelectric power stations have already
started for a total expenditure of AMD 3 billion 450 million. Taking
into account the volumes of the expenditures it is planned to conduct
public subscription of the company’s shares.
This wide-ranging program has no precedent in Artsakh and Armenia. The
shares are available for every natural and legal person, including
foreign investors. For more information contact "Artsakh Hydroelectric
Power Station" office in Stepanakert or "Armenbrock" company office
in Yerevan.
3 mln 285 thousand shares are issued – ordinary and nominal. One
share costs AMD 1000 (15 percent of annual profit).
Share issue will continue until April 10 of this year. It is the
first stage of the process; after a successful distribution of the
shares, the next subscription will start for construction of the
other hydroelectric power stations.
At the presentation, NKR Prime Minister Ara Haroutiunian said in
his speech that the government had worked out the energy development
program as early as 1995, but it wasn’t carried out because of lack
of investors.
At present, "Artsakh Hydroelectric Power Station" initiative suggested
by the NKR Government has a real perspective.
It is anticipated to hold similar presentation in Yerevan in the
nearest future.
From: Emil Lazarian | Ararat NewsPress
