Announcement

Collapse
No announcement yet.

Vardan Aivazyan Against Indian Gold Producers

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Vardan Aivazyan Against Indian Gold Producers

    VARDAN AIVAZYAN AGAINST INDIAN GOLD PRODUCERS

    Lragir.am
    14 June 06

    The talks between Ararat Gold Recovery Company and the Ministry of
    Environmental Protection resemble the Aliyev-Kocharyan meetings:
    first they have a friendly talk, then they blame each other for the
    lack of results and immediately deny accusations against them. But
    if Aliyev and Kocharyan discuss governmental issues, Vardan Aivazyan
    and AGRC are discussing the construction of a new factory.

    The owner of the company is Anil Agarval, Indian by origin. On June
    13, 2006 Vedanta Resources, which is also owned by Anil Agarval,
    acquired the controlling interest of AGRC.

    The dispute with the Ministry of Environmental Protection occurred
    when AGRC decided to build a factory near Lake Sevan, 20-30 km from
    the lake. The Armenians say it does not comply with the environmental
    standards. The company, which has spent a lot of money for the place
    and project, suggests that the government decide the place of the
    factory for them to avoid wasting money. "The government must assist
    companies which pay taxes," notices Armen Ter-Tachatyan, the lawyer
    of AGRC.

    The president of AGRC B.K. Sharma stated June 14 that they are ready
    to build the factory where the government will say. The minister of
    environmental protection Vardan Aivazyan stated that choosing the
    place of the factory is not the problem of the government. The gold
    miners are not saying that Vardan Aivazyan is lying, they cannot see
    a tendency in his actions, but they stress that the government did
    not reject their proposals but informed that it is being discussed.

    The gold miners deny accusations against them. With regard to hiding
    1000 kg gold, Armen Ter-Tachatyan, the lawyer of the company, said,
    "For 1000 kg of gold several billion kg of soil must be dug. It is
    impossible to hide several billion kg of soil." After denying that
    the company invested less than it had pledged and other accusations
    made by Vardan Aivazyan, B.K. Sharma first announced that an
    authoritative international organization, as well as the relevant
    agencies, audited AGRC. And generally the volume of investments
    is the concern of the Ministry of Trade and Economic Development,
    not the Ministry of Environmental Protection. And if Vardan Aivazyan
    still has doubts, B.K. Sharma is ready to cover the travel expenses
    of any international company to Armenia and open his factory before
    it to reveal the truth. Vardan Aivazyan only has to invite.

    According to B.K. Sharma, they have already invested 45 million dollars
    in AGRC, they are going to invest another 85 million. They work with
    losses. But it is normal, he assures, because in the first 6-7 years
    they work with losses in this type of business.
Working...
X