SECOND SECTION OF IRAN-ARMENIA GAS PIPELINE TO BE BUILT IN 2008 – AGENCY
Arminfo
30 May 07
Yerevan, 30 May: HayRusgazard closed-type joint-stock company plans
to invest 33bn drams (93m dollars) in the construction of the second
section of the Iran-Armenia [gas] pipeline in 2007. In all, the company
plans to invest 52bn drams (150m dollars) for the implementation of
the project.
The chairman of the board and CEO of HayRusgazard, Karen Karapetyan,
has visited the construction area of the Kajaran-Ararat [section of
the] pipeline together with experts.
The press service of HayRusgazard reported that the construction of
the 40 km Meghri-Kajaran section, as well as the 197.4 km section
of the pipeline with a diameter of 720mm in the direction of
Kajaran-Sisian-Jermuk-Ararat, will allow to raise the capacity of
the system of gas transport. It will also provide the entry of the
Iranian natural gas to Armenia in agreed volumes.
[Passage omitted: technical and contractual details]
Karapetyan said that the work on this section of the gas pipeline,
stretching about 200 km, is planned to be done in 2007-08. In 2007,
150 km of pipes will be bought, and 85 km of the pipeline will be
constructed. He said that all the three shareholders of the company
have the right to take part in the additional emission of shares with
their proposals and partial participation.
[Passage omitted: background details]