Cement News tagged under: Hrazdan Cement
Hrazdan Cement restarts production under Russian ownership15 June 2018, Published under Cement NewsArmenia's Hrazdan Cement Corp is operating again and has been bought by GM Holding, which is under Russian ownership. Zhoghovurd (People) newspaper, reports that GM Holding is owned by Arsen Mikaelyan, chairman of Armbusinessbank CJSC board, which belongs to billionaire Vitaly Grigoryants, born in Karabakh, who lives in Russia. According to the newspaper, after the purchase-sale transaction investments were made in December 2017, the Armenian cement plant has started operating. Hr... |
Armenia: Hrazdan exempt from fines17 May 2016, Published under Cement NewsThe Armenian government has been successful in pushing through a bill exempting Hrazdan cement plant from fines, accumulated by its failure to pay taxes and other mandatory payments. Artsvik Minasyan, economy minister, argued that the bill would both create a competitive field and have a positive impact on economic activity in the region. He said the reactivation of the idle plant will save approximately 500 jobs. The total debt of the Hrazdan cement plant is estimated at AMD935m (US$1.9... |
Armenia: Hrazdan Cement expected to increase output05 February 2016, Published under Cement NewsHrazdan Cement, located in Armenia’s central Kotayk province, is expected to increase output up to 200,000t, the country’s Minister of Economy Karen Chshmarityan, has said. Chshamrityan said in 2015 the plant produced about 80,000t of cement, the bulk of which was exported, Arka news agency reported. In 2015 autumn the company paid AMD150m of taxes and repaid wage arrears to the tune of AMD180m Hrazdan Cement is one of two cement producers in Armenia. In 2014 it received a US$4.6m loan fro... |
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