"GASPROMBANK" AND "ARMRUSGASPROM" SIGNED TODAY A LONG-TERM CREDIT CONTRACT

ARMENPRESS
Oct 26, 2009

YEREVAN, OCTOBER 26, ARMENPRESS: Russian "Gasprombank" and
"Armrusgasprom" signed today a long-term credit contract on opening
of 40 million USD credit line.

Press service of "Armrusgasprom" told Armenpress that the credit line
will be served by "Areximbank CJSC-Gasprombank" group – the subsidiary
of "Gasprombank".

The signing of the contract is directed toward the development
of effective cooperation of the republic’s fuel-energy complex
enterprises.

"Armrusgasprom" is also continuing the implementation of programs of
strategic importance for Armenia’s economy, particularly expansion of
the gas-transportation system agreed with the operation of Iran-Armenia
gas pipeline and upgrading of the 5th unit of "Hrazdan Thermo Power
Plant".

In 2009 January-September the investments made by the company amounted
27,8 billion USD.