President says $1 billion investment project coming to Armenia

President says $1 billion investment project coming to Armenia

PanARMENIAN.Net - The Investors Club of Armenia will make a big presentation in Yerevan about the launch of a major investment program, worth a little more than $1 billion, president Serzh Sargsyan said in an interview with RIA Novosti.

The investment will mainly be made into the energy sector of Armenia, which includes the modernization of the Electric Networks of Armenia, the construction of a new hydroelectric power station and enterprises for the manufacture of products for power engineers with Schneider Electric, a well-known company," Sargsyan said.

"And I think this product will find its way to the Russian market."

Also, Sargsyan said that work is underway to establish a Russian-Armenian fund which will focus on investments for IT, energy, high-tech products.

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