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Gazprom Planning $90m Worth Investment In Armenia

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  • Gazprom Planning $90m Worth Investment In Armenia

    GAZPROM PLANNING $90M WORTH INVESTMENT IN ARMENIA

    22:13 ~U 05.12.13

    Gazprom, the Russian gas company whichpurchased 20% of Hayrusgazard's
    shares earlier this week, is going to invest $90 million in Armenia's
    natural gas sector from 2014 until 2016.

    Citing Hayrusgazard, the Russian ITAR-TASS reports that the company
    is expected to increase its shares from 80% to 100%.

    Hayrusgazard, which is Gazprom's affiliate in Armenia, is planning
    to make investments amounting to $37 billion in the coming three years.

    As for 2014-2016, the company intends to spend 13,460,000 Armenian
    Drams (approx. $550,000) in that period for the reconstruction and
    expansion of the underground gas reserves of Abovyan (Kotayk region).

    It also plans to direct resources to the reconstruction of the natural
    gas delivery and distribution system.

    Armenian News - Tert.am

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