European investors intend to invest $ 100 million in Artsakh`s  economy

ArmInfo.European investors will soon implement an investment program worth $ 100 million in Artsakh. The agreement was reached during the visit of former Prime  Minister of Artsakh, Advisor to the NKR President on special  assignment Arayik Arutyunyan and the government delegation to Europe.

As Harutyunyan wrote on his Facebook page, these funds will be  invested in the construction of a new reservoir on the right bank of  the Sarsang. The construction works will last several years; this  will allow the water from the reservoir to be transported by means of  a cascade by gravity to the districts surrounding the Martakert  administrative center. With the help of three new reservoirs, it will  be possible to irrigate more than 10 thousand hectares of territory  (10% of all irrigated lands). "I think that this will be one of the  largest foreign investment projects in Artsakh, and a guarantee of  agricultural development in the Martakert region," wrote Harutyunyan,  adding that the irrigation system of the republic needs serious  investments. He said that these days a delegation of European  investors is in Artsakh, with whom the technical details of the  program, as well as the timing of its implementation, are being  discussed. "The day is approaching when in the Martakert region as a  result of the development of gardening, processing enterprises with  thousands of jobs will also be built," the ex-premier said.

It is noteworthy that the investment project also implies the  construction of a new hydroelectric power station on the cascade,  which by increasing the volume of generated electricity will  contribute to its export.  Harutyunyan also added that according to  the data for 9 months of 2018, the volume of electricity generated in  the country amounted to 290 million KW, an increase of 20.5% compared  to the same period in 2017.  The republic consumes 267 million kW.  The ex-premier noted that in the near future it is planned to  increase the volume of electricity generated in the country to 1  billion kWh.  Harutyunyan also announced in the near future the  launch of several charitable programs due to funds provided by  benefactors from Diaspora.