Monopolist of the telecommunication network of Armenia Armenian-Greek ArmenTel company expects to gain $157 million 890 thousand income in 2004. The data was confirmed at a meeting of the company Committee of Directors held the other day, at which the 2004 budget was approved. As reported by Arminfo agency, the company will allocate some $70 million for current expenses and its leadership plans to invest $43.86 million into development of the communication system of the republic. $26 million out of them will be spent to advance cellular communication, $17.8 million – to improve fixed communication.
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