ARG INVESTS ABOUT 27 BILLION DRAMS IN GAS-ENERGY PROJECTS IN JANUARY-SEPTEMBER

ARKA
Oct 6, 2009

YEREVAN, October 6, /ARKA/. About 27 billion Drams were invested
in gas-energy projects in Armenia in January-September, 2009,
a statement posted on the official website of ArmRosGazprom (ARG)
joint Armenian-Russian gas operator says.

According to the statement, ARG invested 10.3 billion Drams in the
first nine months of 2009 in rehabilitation and development of the
natural gas network of the country.

‘The ArmRosGazprom company continues consistently to implement
gas-energy projects which are of strategic significance for the
country’s economy, particularly, the expansion of the gas-transport
system by launching the Iran-Armenia gas pipeline and accomplishment
of the construction of the fifth unit of Hrazdan thermal power plant,’
the statement says.

Since 2006 the ARG has invested a total of $541.1 million of its own
funds and loans from local and international lending organizations
in implementation of gas-energy projects.

The ARG is the sole natural gas operator in Armenia bringing
and distributing the Russian gas across Georgia. The company was
established in 1997. Russian Gazprom holds 80% in it, the rest is
owned by the Armenian government. ($1 – 384.26 Drams).