Almost All Credit Agreements With ‘Electric Networks Of Armenia’ To

ALMOST ALL CREDIT AGREEMENTS WITH ‘ELECTRIC NETWORKS OF ARMENIA’ TO BE IMPLEMENTED: COMPANY DIRECTOR GENERAL

ArmInfo
2009-01-27 11:24:00

ArmInfo. Despite the global financial crisis, almost all the credit
agreements in 2009 will be implemented, Director General of "Electric
Networks of Armenia" Yevgeniy Gladunchik told ArmInfo. He said, only
the conditions of credit extension, which are good enough for the
management of the electric networks, have changed. ‘We are not going
to acquire Rolls- Royce’, all the funds will be purpose-oriented>,
director general said and recalled that the matter is concerning
the credit agreements with HSBC Bank Armenia to the sum of $5 mln,
with BTA Armenia Bank to the sum of $70 mln.

The total three-year investment programme of ‘Electric Networks of
Armenia’ CJSC makes up $170 mln. In general, the director general
positively assesses the results of 2008 during which a great work was
done. In particular, a serious work was done for equipment replacement
which will be completed in 2009.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS