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ARG Invests About 27 Billion Drams In Gas-Energy Projects In January

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  • ARG Invests About 27 Billion Drams In Gas-Energy Projects In January

    ARG INVESTS ABOUT 27 BILLION DRAMS IN GAS-ENERGY PROJECTS IN JANUARY-SEPTEMBER

    ARKA
    Oct 6, 2009

    YEREVAN, October 6, /ARKA/. About 27 billion Drams were invested
    in gas-energy projects in Armenia in January-September, 2009,
    a statement posted on the official website of ArmRosGazprom (ARG)
    joint Armenian-Russian gas operator says.

    According to the statement, ARG invested 10.3 billion Drams in the
    first nine months of 2009 in rehabilitation and development of the
    natural gas network of the country.

    'The ArmRosGazprom company continues consistently to implement
    gas-energy projects which are of strategic significance for the
    country's economy, particularly, the expansion of the gas-transport
    system by launching the Iran-Armenia gas pipeline and accomplishment
    of the construction of the fifth unit of Hrazdan thermal power plant,'
    the statement says.

    Since 2006 the ARG has invested a total of $541.1 million of its own
    funds and loans from local and international lending organizations
    in implementation of gas-energy projects.

    The ARG is the sole natural gas operator in Armenia bringing
    and distributing the Russian gas across Georgia. The company was
    established in 1997. Russian Gazprom holds 80% in it, the rest is
    owned by the Armenian government. ($1 - 384.26 Drams).
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