GAZPROMBANK TO OPEN LONG-TERM CREDIT LINE FOR ARMRUSGAZPROM COMPANY
NOYAN TAPAN
October 26, 2009
YEREVAN
YEREVAN, OCTOBER 26, NOYAN TAPAN. An agreement on opening a long-term
credit line of 40 million dollars was signed between Gazprombank OJSC
(Russia) and ArmRusgazprom CJSC on October 26. The agreement is yet
another step of Gazprombank’s strategy aimed at developing efficient
cooperation with enterprises of the fuel and energy complex of Armenia,
the press service of the company reported.
ArmRusgazprom is consistently implementing the gas-energy programs
of strategic importance to the Armenian economy, in particular, the
projects on extension of the gas transportation system as a result
of launching the Iran-Armenia gas pipeline and the completion of
construction and modernization of the 5th power unit of the Hrazdan
Thermal Power Plant (TPP). Investments in these projects amounted to
27.8 billion drams in January-September 2009. Besides, the company
invested 10.3 billion drams (about 26.75 million USD) in the
restoration and development of the gas system in the indicated period.