ArmRosGazprom received 50 million loan from KfW
13.06.2009 17:05 GMT+04:00

/PanARMENIAN.Net/ On June 10, 2009, ArmRosGazprom CJSC and KfW
Development Bank (Germany) signed a long-term loan agreement. The
credit sum totals 50 million Euros; the allocations will be made in US
Dollars, the company’s press service reports.
According to the company’s release, the loan program aims at the
reconstruction and development of Armenia’s gas-transport and gas
distribution systems.
ArmRosGazprom CJSC plans to realize a number of projects aimed at
developing Armenia’s gas-transport system and increasing security and
gas supply. Such goals will be achieved through the construction,
reconstruction, repairs, restoration and modernization of Armenia’s
gas transport network (including the underground gas reserve in
Abovyan), as well as the installation of individual indicating devices
and emergency valves in the gas distribution system.