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GOVERNMENT OF ARMENIA WILL PROVIDE ADDITIONAL CREDIT TO THE PLANT "ELECTROPRIBOR" IN THE AMOUNT OF 50 MILLION DRAMS
/ARKA/
March 22, 2011
YEREVAN
YEREVAN, March 22. /ARKA/. Government of Armenia will provide credit to
the plant "Electropribor" in the amount of 50 million drams, said the
Armenian Economy Minister Tigran Davtyan during his visit to the plant.
In October 2009 the plant "Electropribor" received credit from
universal credit organization "Investment of small and medium business"
in the amount of 150 million drams by 12% percent rate annually for
five years with six-month grace period.
Taking into account the positive dynamics, financial and legal issues
of the provision of state additional funding are discussed. The
Economy Minister visited the plant and discussed the reasonability
of continuing the program.
The first credit gave its positive results and the minister didn't
exclude the opportunity of crediting by lower percent rate.
If the first credit was targeted at the replenishment of circulating
assets, now the plant is going to make capital expenses which envisage
modernization of production and the first steps in this direction
are made.
"The plant maintained the potential of soviet period and is making
capital investments, improves the structure and production capacities.
The company will invest innovation technologies for new products and
we are ready to continue our cooperation and provide credits for the
solution of current problems, reconstruction and introduction of new
technological lines", said Davtyan.
The company has traditional partners and expands the geography of
its export.
The company "Electropribor" was established in 1957 and was the only
plant of electrical measuring devices in the territory of the USSR.
After the collapse of the Soviet Union about 140 new products were
produced in the company. The main raw-material is purchased from
Russia, Turkey and Iran.
According to the data of the Armenian Economy Ministry, the volume
of the production of "Electropribor" in 2010 was about 360 million
drams and sale volume - about 386 million drams, of which about 380
million drams was exported. ($1 - 369.83 drams).
From: A. Papazian
/ARKA/
March 22, 2011
YEREVAN
YEREVAN, March 22. /ARKA/. Government of Armenia will provide credit to
the plant "Electropribor" in the amount of 50 million drams, said the
Armenian Economy Minister Tigran Davtyan during his visit to the plant.
In October 2009 the plant "Electropribor" received credit from
universal credit organization "Investment of small and medium business"
in the amount of 150 million drams by 12% percent rate annually for
five years with six-month grace period.
Taking into account the positive dynamics, financial and legal issues
of the provision of state additional funding are discussed. The
Economy Minister visited the plant and discussed the reasonability
of continuing the program.
The first credit gave its positive results and the minister didn't
exclude the opportunity of crediting by lower percent rate.
If the first credit was targeted at the replenishment of circulating
assets, now the plant is going to make capital expenses which envisage
modernization of production and the first steps in this direction
are made.
"The plant maintained the potential of soviet period and is making
capital investments, improves the structure and production capacities.
The company will invest innovation technologies for new products and
we are ready to continue our cooperation and provide credits for the
solution of current problems, reconstruction and introduction of new
technological lines", said Davtyan.
The company has traditional partners and expands the geography of
its export.
The company "Electropribor" was established in 1957 and was the only
plant of electrical measuring devices in the territory of the USSR.
After the collapse of the Soviet Union about 140 new products were
produced in the company. The main raw-material is purchased from
Russia, Turkey and Iran.
According to the data of the Armenian Economy Ministry, the volume
of the production of "Electropribor" in 2010 was about 360 million
drams and sale volume - about 386 million drams, of which about 380
million drams was exported. ($1 - 369.83 drams).
From: A. Papazian