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GAZPROMBANK APPROVES $40 MILLION CREDIT FACILITY TO ARMRUSGASPROM CJSC
ArmInfo
2009-10-27 10:53:00
ArmInfo. Russian OJSC Gazprombank has approved a $40 million credit
line to the ArmRusgasprom CJSC. The two companies signed the contract
on October 26 2009 for 7 years, ArmRusgasprom reported.
The subsidiary of Gazprombank, CJSC Areximbank (Gazprombank Group)
will serve the credit facility. The contract is another step towards
implementation of Gazprombank's strategic task to develop effective
cooperation with the enterprises of fuel and energy complex in the
country, the source reported.
CJSC ArmRusgasprom keeps on implementing gas and energy projects of
strategic importance for Armenia's economy, specifically, extension
of the gas transportation system through putting into exploitation
Iran-Armenia gas pipeline and completion of the construction and
modernization of the 5th power unit of Hrazdan TPP. (As it was
reported earlier, the funds were necessary to complete construction
and modernization of Hrazdan-5 in time).
Over the last years, investments in the country totaled $700-750
million. Investment projects are implemented on own funds and
borrowings. To raise funds, ArmRusgasprom cooperates with a number
of local and foreign financial institutions.
Gazprombank OJSC is one of the largest universal financial institutions
in Russia. It is among top three Russian banks and occupies the
third position in the list of banks in Central and Eastern Europe. It
serves the key sectors of the Russia economy: gas, oil, and nuclear
and electric power sectors. Among Gazprombank's clients are over 2
million of individuals and 43,000 legal entities.
The bank serves 44 branches and 5 subsidiaries and dependent banks
in Russia. It holds stakes in Belgazprombank (Belarus), Areximbank -
Gazprombank Group (Armenia) and Russian commercial banks (Sweden). It
is represented in China and Mongolia. As of June 30 2009, the total
capital of Gazprombank was 156.5 billion rubles, assets - 1855.3
billion rubles.
Arexibank CJSC - Gazprombank Group was founded in 1998 to support
entrepreneurship and service financial flows between Russia and
Armenia. On November 29 of 2007, Gazprombank (Open Joint Stock
Company), having received the approval of the Central Bank of the
Republic of Armenia, acquired the control package of "Areximbank"
CJSC shares. The bank services over 58000 individuals and over 200
legal entities including ArmRusgasprom CJS, Armenian Electric Networks
CJSC, VivaCell-MTS, Beeline, Rusal-Armenal CJSC, Russian Armenia
(Slavonic) University and others. As of October 18 2009 the total
capital of the bank was 9,906,771 thousand drams and total assets -
39,545,809 thousand drams. The number of branches is 15.
From: Emil Lazarian | Ararat NewsPress
ArmInfo
2009-10-27 10:53:00
ArmInfo. Russian OJSC Gazprombank has approved a $40 million credit
line to the ArmRusgasprom CJSC. The two companies signed the contract
on October 26 2009 for 7 years, ArmRusgasprom reported.
The subsidiary of Gazprombank, CJSC Areximbank (Gazprombank Group)
will serve the credit facility. The contract is another step towards
implementation of Gazprombank's strategic task to develop effective
cooperation with the enterprises of fuel and energy complex in the
country, the source reported.
CJSC ArmRusgasprom keeps on implementing gas and energy projects of
strategic importance for Armenia's economy, specifically, extension
of the gas transportation system through putting into exploitation
Iran-Armenia gas pipeline and completion of the construction and
modernization of the 5th power unit of Hrazdan TPP. (As it was
reported earlier, the funds were necessary to complete construction
and modernization of Hrazdan-5 in time).
Over the last years, investments in the country totaled $700-750
million. Investment projects are implemented on own funds and
borrowings. To raise funds, ArmRusgasprom cooperates with a number
of local and foreign financial institutions.
Gazprombank OJSC is one of the largest universal financial institutions
in Russia. It is among top three Russian banks and occupies the
third position in the list of banks in Central and Eastern Europe. It
serves the key sectors of the Russia economy: gas, oil, and nuclear
and electric power sectors. Among Gazprombank's clients are over 2
million of individuals and 43,000 legal entities.
The bank serves 44 branches and 5 subsidiaries and dependent banks
in Russia. It holds stakes in Belgazprombank (Belarus), Areximbank -
Gazprombank Group (Armenia) and Russian commercial banks (Sweden). It
is represented in China and Mongolia. As of June 30 2009, the total
capital of Gazprombank was 156.5 billion rubles, assets - 1855.3
billion rubles.
Arexibank CJSC - Gazprombank Group was founded in 1998 to support
entrepreneurship and service financial flows between Russia and
Armenia. On November 29 of 2007, Gazprombank (Open Joint Stock
Company), having received the approval of the Central Bank of the
Republic of Armenia, acquired the control package of "Areximbank"
CJSC shares. The bank services over 58000 individuals and over 200
legal entities including ArmRusgasprom CJS, Armenian Electric Networks
CJSC, VivaCell-MTS, Beeline, Rusal-Armenal CJSC, Russian Armenia
(Slavonic) University and others. As of October 18 2009 the total
capital of the bank was 9,906,771 thousand drams and total assets -
39,545,809 thousand drams. The number of branches is 15.
From: Emil Lazarian | Ararat NewsPress