GeoProMining will assist in the water supply project for the villages of Vardenis region

ArmInfo.GeoProMining Gold Company (a subsidiary of GeoProMining), within the framework of the state subvention program, will provide financial assistance to the Vardenis community of the Gegharkunik region of Armenia in the implementation of the project for the construction of a water supply system for border villages.

The corresponding agreement was signed by Anatoly Gogotin, General Director of GeoProMining Gold, and Aharon Khachatryan, Head of the Vardenis community.

Under the agreement, the company undertakes, within three years, to provide financial assistance to the water supply program for 5 villages of the Vardenis region for a total of 150 million drams (470 thousand dollars).

The project is aimed at providing five villages with a drinking and irrigation water supply system. The total cost of the project is 700 million drams, of which 150 million will be provided by GeoProMining Gold, 180 million by Vardenis community. The rest is subsidized by the state.

Anatoly Gogotin, General Director of GeoProMining Gold: “The Company's participation in subvention programs ensures effective interaction between the state, local communities, and business. Our experience shows that such cooperation allows us to solve social problems of an infrastructural nature most effectively in the regions of our presence, since all interested parties are involved in the process. This is the fourth program in which GeoProMining Gold participates, and I am sure that its implementation will improve the social and living conditions in the border villages of the region.”

The Head of the Vardenis community, Aharon Khachatryan: “GeoProMining Gold's participation in the infrastructure projects being implemented in our region allows us to solve larger tasks aimed at solving social and economic problems. In this regard, GeoProMining Gold is our main partner and good friend, participating in the life of the community and its inhabitants for 15 years. Social, cultural, educational, and medical programs of the Company allow us to improve the quality of life of our citizens.”

The Company's participation in previous subvention programs is estimated at 140 million drams. The first two were implemented again in the Gegharkunik region of Armenia. In particular, this is a project for the gasification of a number of villages, the development of a water supply system, the lighting of rural streets, the reconstruction and improvement of streets and the Park of Culture in the city of Vardenis. The third project is the reconstruction of the building of the House of Culture in the city of Ararat and the improvement of the adjacent square.

The current project on water supply of  Vardenis region villages is the fourth subvention program in which, along with local community and the Armenian government, GeoProMining Gold participates. The Company also fulfills all tax and social obligations stipulated by the legislation.

Among the RA state subsidy programs 1 billion 890 million AMD has been allocated to the enlarged community of Vardenis for the years of 2021 and 2022, and according to the preliminary assessment of applications, a subsidy of 1 billion 980 million AMD is planned for 2023.

The projects are aimed at overhauling the roofs of apartment buildings in the community, paving of the streets approaching central and rural settlements, building street lighting networks, gasification of settlements, construction of shelters, construction of drinking water lines and irrigation water lines, overhaul of public buildings, repair of kindergartens, improvement of yard areas of apartment buildings.