ArmRosGazprom pins great hopes on Hrazdan TPP 5th unitApril 20, 2010 - 15:35 AMT PanARMENIAN.Net - ArmRosGazprom CJSC Deputy Director General on Finance and Economy Vahagn Arakelyan said that the fifth unit of Hrazdan thermal power plant will serve as the company’s basic source of income next year. “The profitability will depend on Hrazdan-5, as we do not expect an increase in gas consumption, naturally and incomes will not grow either,” Mr. Arakelyan told journalists on the sidelines of a European business congress going on in Yerevan. According to him, the crisis has affected the company’s activity, like many other companies operating in this field. “Gas consumption has sharply decreased, while we have to keep expenses at the same level,” stated Mr. Arakelyan. As for investment programs, Mr. Arakelyan noted that currently the company does need to attract additional investments to complete them. The European Business Congress Committee on Legislation, Banks and Finance opened its meeting on management of energy companies’ expenditures in Yerevan on April 20. The event brought together representatives of gas, energy, financial, banking sectors, including Gazprom OJSC, Overgas, NPF Gazfond, NIIgazeconomika LLC, Zapsibgaz CJSC, BelGasprombank OJSC, NGCC, Calyon Rusbank, BNP PARIBAS, Siemens IT Solutions and Services, Deutsche Bank, Comerzbank, Ingbank, Comita, KPMG, BDO, UBS, SIGESSE s.a., PricewaterhouseCoopers. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |