ARMRUSGAZPROM’S AUTHORIZED CAPITAL TO GROW ALMOST TWOFOLD SOON
Noyan Tapan
May 22 2006
YEREVAN, MAY 22, NOYAN TAPAN. Proportions of ArmRusagazprom’s
authorized capital will change soon, as the 5th power unit of Hrazdan
Thermal Power Plant will make part of this authorized capital in the
amount of its sale value. The company’s authorized capital currently
makes 280 mln USD. Director General of ArmRusgazprom Karen Karapetian
stated this during a round table on May 22.
In his words, the Armenian government will keep the number
of its shares unchanged. K. Karapetain said that the owners of
ArmRusgazprom have decided to expand their business, which requires
additional financial resources. It was noted that the founders have
the opportunity to invest the increased resources immediately after
taking a decision, or in the future, or else not to make invsetment at
all. The proportion of investments to be made will be determined after
the end of negotiations that are currently underway. It was indicated
that in case the Armenian government does not make any investment in
the additional business, it will not affect the number of this extra
business’ shares in any way. In the words of K. Karapetian, the sale of
Hrazdan TPP’s 5th unit was a profitable tranbsaction, since it offers
Armenia an unprecedented opportunity to have a guaranteed and logical
tariff for three years. And if the economy is managed efficiently,
the Armenian manufacturers will be able to occupy all markets of
the region in the next three years. The speaker noted that work on
relaunching the 5th power unit will start soon.