Yerevan/Mediamax/. Russian “Gazprombank” and “ArmRosGazprom” CJSC signed a long-term credit agreement on opening a credit line at the volume of $50mln.

Mediamax reports that the credit for the term of 5 years is issued for modernization of the 5th power plant of Hrazdan HPP, as well as for the operating activities of “ArmRosGazprom” CJSC.

The bank to manage the credit line is the subsidiary structure of “GazpromBank” – “Areximbank – Gazprombank Group” CJSC.

Signing of the agreement was another step in implementation of the strategic task of “Gazprombank” on developing efficient interaction with enterprises of the fuel-energy complex of Armenia.

This is already the second credit line, opened for “ArmRosGazprom” CJSC by Russian “GazpromBank”. The first credit agreement for the sum of $40mln and the term of 7 years was signed in October, 2009.