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Authorized Capital Of Armrusgazprom Company To Make About One Billio

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  • Authorized Capital Of Armrusgazprom Company To Make About One Billio

    AUTHORIZED CAPITAL OF ARMRUSGAZPROM COMPANY TO MAKE ABOUT ONE BILLION DOLLARS IN 2009

    Noyan Tapan
    April 16, 2008

    YEREVAN, APRIL 16, NOYAN TAPAN. ArmRusgazprom company is currently
    conducting active negotiations witn Rissia and Iran on the issue of
    constructing an oil refinery in Armenia. The chairman of the board of
    ArmRusgazprom, director general Karen Karapetian said at the April
    16 press conference that they are also negotiating with companies
    of Georgia, Iran and Turkmenistan around electricity export. The
    construction and assembly of Kajaran-Ararat section of Iran-Armenia
    gas pipeline is now in process and will be completed this year. The
    work is being done with the company's resources - at the expense of
    an additional issue of shares of ArmRusgazprom, which will allow to
    ensure supply of natural gas of 1.1-2.3 billion cubic mters a year.

    K. Karapetian informed those present that the program on issue of
    corporate bonds of a total of 5 billion drams (about 16 mln USD)
    has been approved and will be implemented in the first half of this
    year. In 2009, the authorized capital of the company will make about 1
    billion USD, while market capitalization will amount to 1.5-2 bln USD.

    Summarizing the results of the company's activities in the past seven
    years, K. Karapetian said that the payments to the RA state budget
    have increased 11fold, the payments to the pension fund - 7.5fold. The
    amount of gas imports and sales in Armenia have grown over twofold,
    while the number of actual users has increased 5.1fold. The annual
    investments have grown from 2 bln drams to 48 bln drams, and it is
    envisaged to increase this index to 67.4 bln drams this year.

    From: Emil Lazarian | Ararat NewsPress
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