Yerevan/Mediamax/. Today, the former Armenian Prime Minister, head of Knightsbridge Group of Companies Armen Sargsyan and the Governor of Leningrad region Valery Serdyukov will sign a memorandum on cooperation on Novoladozhsky water channel. The project is estimated to cost 50 billion rubles.

“Business Petersburg” paper wrote this today, Mediamax reports.

The newspaper noted that the region has been looking for investors for the project for 4 years.

“Business Petersburg” wrote that Knightsbridge works in partnership with the world’s leading investment and insurance companies and organizations including Goldman Sachs, Merrill Lynch, Credit Suisse and HSBC. It has representations and offices in Vienna, London, Paris, Moscow, Budapest, Warsaw, Kiev and Alma-Ata.

“Armen Sargsyan is a serious businessman. He is an intellectual, who is respected by the business elite of the world. Armen Sargsyan is the most serious face of the Armenian Diaspora in London, one of the most influential Armenians in the world,” the head of the Armenian Diaspora in Petersburg, Karen Mkrtchyan, told the newspaper.
 
According to the newspaper, the volume of private investments into the Novoladozhsky channel will make 30bn rubles. The rest of the means will be allocated from the regional and state budget.