Investments of VivaCell in Armenia for 2010 are envisaged in the amount of $55 million – General Director

30.10.2009 16:23
Investments of VivaCell in Armenia for 2010 are envisaged in the amount of $55 million – General Director

YEREVAN, October 30, /ARKA/. Investments of VivaCell in Armenia for 2010 are envisaged in the amount of $55 million”, said Ralph Yirikyan, General Director of the company on Thursday in Sevan.

This is the preliminary size of capital investments yet which is not approved by the Board of Directors of the Group.

“After the discussion of the investment program the final size of the investments can be corrected”, said Yirikyan. Oleg Raspopov, Vice President of MTS said that the program is still in the phase of discussions.

“We study the size of investments for 2010 which will not be less by payments and by operation of equipment it can exceed $50 million envisaged for 2009”, said Raspopov.

The company will fully implement the investments envisaged for 2009 and the exempted means for privileged procurement will be targeted at the implementation of new projects.

“We will invest money and support the management of the company in innovative projects. For this reason the company will remain the most innovative company in the Armenian market for which we have all necessary financial and human resources”, said Raspopov.

MTS will continue its investments for maintenance of leading position in the Armenian market for which it has all tendencies. We have only to increase quality of services. MTS will also support all the initiatives for maintaining competitive advantages and projects which the company implements in Armenia in the sphere of social corporate responsibility.

“We are pleased with the efficiency and demand in the country and will develop new directions in 2010, i.e. education, culture, environment, ecology”, said Raspopov. VivaCell-MTS (CJSC K-Telecom) is a leading operator of mobile connection in Armenia which suggests broad specter of services of voice connection and data transfer.

The company covers the whole territory of Armenia and has licenses of standard GSM 900/1800 till the end of 2019. Shareholder of 80% shares of VivaCell-MTS are the largest operator of mobile connection in Russia and NIS – Open JSC “Mobile Telesystems” (MTS), other 20% belong to Lebanese investment group Fattouch Group. G.K. --0—


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