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ARMROSGAZPROM TO INCREASE INVESTMENT THREEFOLD TO $88.4 MLN IN 2013-2015
Interfax
Nov 28 2012
Russia
CJSC Armrosgazprom plans to invest 35.9 billion dram (around $88.4
million under the current rate of 406.32 dram/$1 on November 28,
2012) in 2013-2015, Armenia's Public Services Regulatory Commission
said on its website.
The company's investment program has been submitted to the Commission
for approval. The commission said in its materials that Armrosgazprom
plans to invest 7.5 billion dram in 2013, around 12 billion dram in
2014, and 16.3 billion dram in 2015. A total of 25.2 billion dram
will go to the country's gas transportation system in the three years,
as well as 10.7 billion dram for gas distribution.
It was earlier reported that the Commission approved the company's
investment program for 2012-2014 at a total value of 11.9 billion dram
($31 million under the exchange rate of that period). At the same
time, investment in 2012 was planned at around 3.2 billion dram,
4.2 billion dram in 2013, and over 4.5 billion dram for 2014.
The Commission told Interfax that, according to Armenian law, the
investment program will be reviewed by the regulator over a six-month
period after its submission. A decision on the program should be made
in February or March 2013.
Armrosgazprom holds the monopoly for supplying gas to Armenia. Russian
gas giant Gazprom (RTS: GAPZ) owns 80% in the company. The Armenian
government holds 20%.
Interfax
Nov 28 2012
Russia
CJSC Armrosgazprom plans to invest 35.9 billion dram (around $88.4
million under the current rate of 406.32 dram/$1 on November 28,
2012) in 2013-2015, Armenia's Public Services Regulatory Commission
said on its website.
The company's investment program has been submitted to the Commission
for approval. The commission said in its materials that Armrosgazprom
plans to invest 7.5 billion dram in 2013, around 12 billion dram in
2014, and 16.3 billion dram in 2015. A total of 25.2 billion dram
will go to the country's gas transportation system in the three years,
as well as 10.7 billion dram for gas distribution.
It was earlier reported that the Commission approved the company's
investment program for 2012-2014 at a total value of 11.9 billion dram
($31 million under the exchange rate of that period). At the same
time, investment in 2012 was planned at around 3.2 billion dram,
4.2 billion dram in 2013, and over 4.5 billion dram for 2014.
The Commission told Interfax that, according to Armenian law, the
investment program will be reviewed by the regulator over a six-month
period after its submission. A decision on the program should be made
in February or March 2013.
Armrosgazprom holds the monopoly for supplying gas to Armenia. Russian
gas giant Gazprom (RTS: GAPZ) owns 80% in the company. The Armenian
government holds 20%.