10:00, 6 March 2009

Stock of the only HPP put up for sale in Nagorno-Karabakh

The city of Stepanakert has presented a public flotation of the stock of the company named "ArtsakhGES" (Artsakh Hydraulic Power Plant). Thus, for the first time in Nagorno-Karabakh, an attempt was made to involve public in a large investment project.

Shares to the total sum of 3.5 billion drams were put up for sale (1 US dollar = 360 drams). The attracted funds will go to build new mini-HPP. One share costs 1050 drams. Shareholders are expected to get up to 15 percent of dividends. Today, the authorized capital of the "ArtsakhGES" makes 5.1 billion drams.

According to Ara Arutyunyan, Prime Minister of Nagorno-Karabakh, the project will allow increasing the electric power generation up to the level permitting its exports.

Author: Naira Airumyan

Source: CK correspondent