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ARMENIAN GOVERNMENT ALLOCATES $44 MILLION TO DEVELOP MINING INDUSTRY
/PanARMENIAN.Net/
29.06.2009 11:18 GMT+04:00
/PanARMENIAN.Net/ In the framework of the visit to Syunik region the
RA prime minister Tigran Sargsyan visited 'Agarak Copper Molybdenum
Plant', press office of the RA government reports.
The purpose of the government sitting in Syunik region is to find
solutions to current problems of the region. RA prime minister Tigran
Sargsyan familiarized with the social and economic situation of the
region and problems of concern of the local population. Then meeting
with the management of the 'Agarak Copper Molybdenum Plant' followed.
As Mr.Sargsyan mentioned, the RA government made a decision to provide
the plant 14 million dollar credit for a 4-year term to obtain new
equipment and raise production efficiency and to made the enterprise
more competitive. The prime minister assured that the provided means
will help the plan to pay off its debts. "As the management of the
plant assured, the credit will help to resolve the problem of salary
debts, in particular," Tigran Sargsyan said. The enterprise will
resume operations starting from July 1.
The Armenian government recently approved the program on Syunik social
economic development over 2010-2013. To intensify the metal mining
industry of the region the government made a decision to provide
with 15 million dollar loans 'Zangezur Ìining' (for 5 year term),
'Armenian Ìolybdenum Production' (for a 5 year term) each.
44 million dollars will be allocated from the state budget. The Prime
minister particularly mentioned, that the amount is provided from
the Russian credit and will help to improve social and economic life
of Syunik region and to alleviate the consequences of the global
financial crisis. The credit resources will be directed to boost
exports from the country and to cut production costs.
/PanARMENIAN.Net/
29.06.2009 11:18 GMT+04:00
/PanARMENIAN.Net/ In the framework of the visit to Syunik region the
RA prime minister Tigran Sargsyan visited 'Agarak Copper Molybdenum
Plant', press office of the RA government reports.
The purpose of the government sitting in Syunik region is to find
solutions to current problems of the region. RA prime minister Tigran
Sargsyan familiarized with the social and economic situation of the
region and problems of concern of the local population. Then meeting
with the management of the 'Agarak Copper Molybdenum Plant' followed.
As Mr.Sargsyan mentioned, the RA government made a decision to provide
the plant 14 million dollar credit for a 4-year term to obtain new
equipment and raise production efficiency and to made the enterprise
more competitive. The prime minister assured that the provided means
will help the plan to pay off its debts. "As the management of the
plant assured, the credit will help to resolve the problem of salary
debts, in particular," Tigran Sargsyan said. The enterprise will
resume operations starting from July 1.
The Armenian government recently approved the program on Syunik social
economic development over 2010-2013. To intensify the metal mining
industry of the region the government made a decision to provide
with 15 million dollar loans 'Zangezur Ìining' (for 5 year term),
'Armenian Ìolybdenum Production' (for a 5 year term) each.
44 million dollars will be allocated from the state budget. The Prime
minister particularly mentioned, that the amount is provided from
the Russian credit and will help to improve social and economic life
of Syunik region and to alleviate the consequences of the global
financial crisis. The credit resources will be directed to boost
exports from the country and to cut production costs.