Artsakhgas privatized, AMD 1,5 billion investments anticipated

The tender on privatizing Artsakhgas CJSC, which was announced by the government of the Republic of Artsakh, was held on April 10. Gagik Israyelyan, deputy head of the state property management department of the government and chairman of the commission chaired the tender.

The government of Artsakh informed one bid was submitted within the deadline by the GM Holding LLC, which was announced the winner of the tender.

Authorized representative of the company Ashot Hovhannisyan briefed the committee members on relevant proposals and info of the requirements and rules of the tender, in accordance to which the company is obliged to make 1 billion 505 million drams investments in Artsakhgas within five years, to maintain the salary fund and reach the minimum wage to 75K drams, not to raise tariffs in the upcoming three years etc.

The committee congratulated the representatives of GM Holding and wished success in the development of an important sector for the Republic.