On December 6, 2018 Mr. Armen Petrosyan, the Director General of Energy Investment Holding CJSC has participated in Eastern Partnership Business Forum 2018, held in Vienna, Austria. The conference was organized on the occasion of Austria’s EU Presidency 2018.

During the B2B meetings, which was aimed at knowledge and views exchange in the fields of Energy Efficiency – Renewable Energy among the representatives of the companies, experts and public institution from EU member states and EU’s six Eastern partner countries, Mr. Petrosyan has met with Austrian state officials and representatives of Austrian companies.

During a meeting Mr. Michael Angerer, Regional Manager at Advantage Austria the current state and opportunities for increasing the trade between Armenia and Austria were discussed. A number of EIH’s hydro electrical projects were discussed during a meeting with Mr. Norbert Schwarz, Vice President of ANDRITZ HYDRO.

A Memorandum of Understanding was signed as per which ANDRITZ HYDRO expressed its interest to participate in the Shnogh Hydroelectric Project equity and supply hydromechanical and electromechanical equipment of its own production for this project, provide a team for performing the design, installation, and commissioning works of the equipment, as well as train local staff which will assist with the installation and commissioning works and which will operate the equipment thereafter.

There were several other meetings held with the representatives of Voith Hydro, Global Hydro Energy, Gugler Water Turbines, and NiMBUC Geoscience during which possible participation of these companies in EIH’s projects was discussed. There was also a meeting held with Mr. Rainer Dreo, the Director of Client Advisory Export Services of the Austrian Export Credit Agency (OeKB) during which the mechanisms of political coverage and financing of investments were discussed.