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5th Block of Hrazdan Heat Power Plant Sold to Gazprom for $248.8 Million

PanARMENIAN.Net - By the RA government decision of April 6, the 5th block of the Hrazdan Heat Power Plant was sold to Gazprom for $248.8 million, Armenian Energy Minister Armen Movsisyan told journalists. Movsisyan said $188 million will be subsidized to the consumers during the period of April 10 - December 31, 2008, the rest of the sum will be transferred to the budget. The tariff of 90 000 AMD for 1 thousand cubic meters of gas set for natural persons will be subsidized by the state at the rate of 25 000 AMD while the tariff of $146.51 set for major consumers will be subsidized at the rate of $52.01. The funds will be transferred to the off-budget account. During next two years the Russian party should invest some $150-160 million in the 5th block of the Hrazdan Heat Power Plant and complete the block. The agreement also notes that till 2009 Gazprom will not change the price for gas.
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