ArmRosGazprom received € 50 million loan from KfW

June 13, 2009 - 18:05 AMT
PanARMENIAN.Net - On June 10, 2009, ArmRosGazprom CJSC and KfW Development Bank (Germany) signed a long-term loan agreement. The credit sum totals 50 million Euros; the allocations will be made in US Dollars, the company's press service reports.



According to the company's release, the loan program aims at the reconstruction and development of Armenia's gas-transport and gas distribution systems.



ArmRosGazprom CJSC plans to realize a number of projects aimed at developing Armenia's gas-transport system and increasing security and gas supply. Such goals will be achieved through the construction, reconstruction, repairs, restoration and modernization of Armenia's gas transport network (including the underground gas reserve in Abovyan), as well as the installation of individual indicating devices and emergency valves in the gas distribution system.
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