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Net profit of "ArmRosgasprom" Armenian-Russian CJSC in 2006 to raise 2,5 times

Armenia Materials 29 November 2006 16:41 (UTC +04:00)

(ArmInfo) -. The net profit of "ArmRosgasprom" Armenian-Russian CJSC in 2006 will raise 2,5 times to $3,750 mln against the last-year $1,5 mln, the Director General of "ArmRosgasprom", Karen Karapetyan, said today during consideration of the gas tariff in the RA Commission for public services, reports Trend.

According to the him, the "ArmRosgasprom" CJSC has been working with profit since 2003. The profit norm for the Company is fixed by the Commission at the rate of 10%. In Karapetyan' opinion, it is a low level taking into account the "aggressive investment policy of the Company and the high rates of gasification".

The volumes of gasification till the end, 2006, will make up 84% against 22,2% in 2001. He added the Company has invested $83 mln within the last 4 years in the development of Armenia's gas industry. Its authorized capital makes up $280 mln.

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