YEREVAN, February 4, /ARKA/. President of the Forum of Armenian Organizations in Europe, Ashot Grigorian, told a news conference today in Yerevan that European-Armenian investors will invest 20 million euros in construction of nine hydropower stations and a building materials plant in the southern province of Syunik.

Ashot Grigorian, who is chief executive of EnergyConsult firm, said investments into energy sector may amount to 15 million Euros. The funding will come from the Czech Court and Euroenergyholding companies in the Czech republic and another part of funding will be provided as loans by Czech and Slovak banks, he said.

He said 2 million euros will be invested in construction of a building materials plant. He said businessmen from the Czech republic, Slovakia and Austria who visited Syunik lately have reached agreements with local authorities and the first agreements will be signed soon.

Senik Julhakian, head of the Czech Court and Euroenergyholding, said the program will kick off in May and is expected to create some 60 new jobs.-0-