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Slz Co To Invest About $1.5mln in Vanadzor Chemical Plant in Armenia

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  • Slz Co To Invest About $1.5mln in Vanadzor Chemical Plant in Armenia

    SLZ COMPANY TO INVEST ABOUT $1.5 MLN IN VANADZOR CHEMICAL PLANT IN ARMENIA


    YEREVAN, DECEMBER 14. ARMINFO. Till the end of 2004 the Slovak company
    SLZ at the primary stage will invest $1.480 mln for launching the
    Vanadzor chemical plant in Armenia. Minister of trade and economic
    development of Armenia Karen Chshmaritian informed journalists
    Tuesday.

    According to him, the agreement for it was reached during the Yerevan
    meeting of the representatives of the SLZ company with the owner of
    the Vanadzor chemical complex. The minister informed that $880 mln
    will be invested for purchase of raw materials, and $600,000 - for
    current expenses. He added that the plant is to be launched on Feb 15,
    2005. Karen Chshmaritian noted that the plant will be launched in
    experimental order within 6-8 months, and then the Slovaks sign an
    agreement with the owner for trust management or leasehold use by the
    chemical complex. At this stage it is planned to resume the production
    of carbide, corundum and acetate film.
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