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    Emil Lazarian
  • 15 years ago
    • Categories: News

VTB Bank Armenia Opens $7.5 Million Credit Line For ArmRusgasprom

VTB BANK ARMENIA OPENS $7.5 MILLION CREDIT LINE FOR ARMRUSGASPROM

ARKA
July 14, 2009

YEREVAN, July 14. /ARKA/. VTB Bank (Armenia) has opened a $7.5mln worth
credit line for Armenia’s gas distribution monopoly ArmRusgasprom,
the bank’s press service reports.

The loan funds will be allocated for construction and modernization
of the fifth power unit in the Hrazdan-based thermal power plant,
as part of the Hrazdan-5 project.

The program budget is likely to exceed $200mln.

The bank has financed ArmRusgasprom to help the country boost the
real sector of economy and energy projects.

In April 2004, VTB Bank (Armenia) joined Russia’s leading financial
group VTB. VTB Bank is the absolute shareholder of the Armenian
bank.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian: “I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS
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