Prime-Tass English-language Business Newswire, Russia
July 9, 2009 Thursday 5:43 PM EET

Gazprom unit to invest over $200 mln in Armenian pwr plant

YEREVAN Jul 9

Russian-Armenian company ArmRosgazprom plans invest over U.S. $200
million in the construction of a fifth unit at the Razdan thermal
power plant in Armenia, the company said Thursday.

The company cited its CEO Karen Karapetyan, who announced the
investment plans during a visit to the construction site. No timeframe
for the completion of the unit was provided.

Russian natural gas monopoly Gazprom holds 80% in ArmRosgazprom, while
the Armenian government holds the remaining 20%.

The Armenian government and Gazprom agreed in 2006 that ArmRosgazprom
would buy the assets of the fifth unit and would complete its
construction.