Yerevan/Mediamax/. EuroEnergy Holding and ABB Slovakia companies intend to realize investment programs in the Nagorno-Karabakh Republic (NKR) and Syunik Marz of Armenia.

Chairman of the Forum of Armenian Unions of Europe Ashot Grigoryan stated at a news conference in Yerevan today that the corresponding agreement has been reached with the leaderships of NKR and Syunik Marz.

According to him, EuroEnergy Holding Company intends to invest EUR 15-20mln in construction of small HPPs and residential construction in Syunik, and in Artsakh, the volume of investments will depend on the state order.

CEO of EuroEnergy Holding Company Senik Julhakyan stated that the company intends to realize a part of the investments from its own means, and a part will be provided by Export-Import Bank of Slovakia for the term of 10 years at the annual interest rate of 5%.

According to him, the company also plans to build a factory of construction materials, on the basis of which residential construction will be realized in both regions. The works on building the factory of construction materials and small HPPs will be launched on May 1, 2011.

Senik Julhakyan also informed that construction of small HPPs in NKR is realized basing on the order of “Artsakh HPP” LLC, and on May 8, 2011, “Tgri-2” HPP will be put to operation in NKR.

ABB Slovakia is one of the largest energy companies producing energy and automation equipment. The company will realize management of new HPPs and is the main contractor of the construction works in Armenia and NKR.