ARMRUSGASPROM IS REPAYING THE CREDIT OF THE ARMENIAN GOVERNMENT AHEAD OF TIME

ArmInfo
2010-02-17 17:14:00

ArmInfo. ArmRusgasprom CJSC is repaying the credit of the Armenian
Government ahead of time, reports the press service of the company.

As of today the company has paid off $30.9mln out of $40mln. $974,000
has been paid in interest. The remaining $9.04mln will also be repaid
ahead of time.

The loan was provided Nov 2 2009 for 6 months at 11% for investment
programs. The money is being spent on modernization of the 5th unit
of Hrazdan Thermal Power Plant sold to Gazprom in 2006.

In Jan-Sept 2009 ArmRusgasprom invested almost $100mln in gas supply
projects in Armenia. 80% of its shares belong to Gazprom, 20% –
to the Government of Armenia.