Wednesday, February 21 2018 17:34
Alexandr Avanesov

"No money" or how the fate of a large enterprise is being decided in Armenia

"No money" or how the fate of a large enterprise is being decided in  Armenia

ArmInfo. It is necessary to  find $ 5 million to use the Karakert stone foundry in Armenia, Suren  Gevorgyan, Chairman of the Board of Directors of Karakert Stone  Foundry said at a meeting of the Committee on Financial-Economic and  Budgetary Affairs of the Public Council under the President of  Armenia.

According to him, the plant, which is the only one in Europe capable  of producing high quality products and complex configurations from  basalt casting, was commissioned in 1992 and is still in a state of  conservation. The enterprise has a full-fledged production  infrastructure for the organization of production.  The territory of  the plant is 20 hectares. On the available free area of 5 hectares  provides for the organization of stone-processing production. If  necessary, it is possible to increase the territory to 50 hectares.  At the same time, the plant's main assets - buildings, structures,  railway branch are in satisfactory condition and require  insignificant investments. When solving the financing problem, the  enterprise will be able to reach the annual turnover of $ 100 million  at the first stage, of which $ 50 million will be net profit.

Suren Gevorgyan added that he submitted to the government a program  to develop perlite exports to Russia and bring the production to $ 1  billion a year, but this program did not find its response in the  executive structures. According to him, Armenia produces 1 cubic  meter perlite at a price of $ 300, in Russia the same product could  be sold at a price of $ 800, and in Europe - for $ 1200. "The  profitability is so high that all transportation costs will pay off,"  Gevorgyan assured, adding that only in Russia the requirements for  heat and sound insulation plates made of perlite are 50 million cubic  meters, and Armenia could supply up to 15 million cubic meters. m.  "Do not take this opportunity means to commit a crime, especially  since the deposit, which is capable of providing the enterprise with  raw materials for 300 years, is close," the head of the Council  believes. He stated his readiness to donate 49% of shares in favor of  the state free of charge in order to solve the task.

He recalled that during the Soviet era Zangezur Copper and Molybdenum  Combine was the customer of construction of the enterprise, which in  the post-Soviet period, being privatized, lost interest in the same  initiated project. "In this, CJSC Kocharian (Robert Kocharian - the  second president of Armenia -red.) Brought his share to 90%, and  about Karakert factory he does not care," Suren Gevorgyan was  indignant.  He added that he now has to seat the thresholds of  official structures in order to find the necessary financial  resources, since commercial banks of the country do not issue credit  to an inactive enterprise, and international financial institutions  require state guarantees. "Everywhere I hear the same answer: there  is no money," the head of the enterprise stated.

The chairman of the commission, the head of the public organization  Union of Domestic Producers Vazgen Safaryan said that he spoke on  this issue with the Vice-Premier, Minister of International Economic  Integration and Reforms Vache Gabrielyan, who proposed to submit  proposals to the ministry headed by him to activate the plant. To  this end, the members of the commission decided to form a working  group of experts who will conduct the certification of the plant,  develop a cost estimate for submission to the government and seek a  solution to the problem within the framework of public-private  partnership.

The plant contains a procurement site, where basalt is sorted,  grinding, blending, stirring and feeding into a open-hearth furnace  (production capacity 32 tons/day with a temperature of 1500-1550 ш  C). There are also automatic devices for pressing basalt casting. The  main advantage of the plant is the unique structure of annealing  furnaces for Europe, which makes it possible to obtain acid-resistant  items from basalt casting of the most complex configuration and ideal  quality. There is a workshop with all the necessary equipment for the  production of glass, crystal and windshield manufacturing for all  types of cars, where special equipment is installed for heat  treatment of glass and shaping it. The plant is provided with two  independent power stations, gas and oil supply systems, water supply  (artesian wells, 2 pumping stations), boiler room, 7 boilers,  mechanical section, waste treatment plant, 3-storey administrative  building, underground sewerage, railway, new locomotive, asphalted  roads, warehouses, transport, etc.

The plant is located 4-7 km from large nonmetallic ore deposits and  is able to become the center of complex processing of nonmetallic ore  materials of Armenia (diatomite, perlite, basalt, tuff, zeolite).

POST A COMMENT
Input digits     


News
Armenian government refused to exempt sales of agricultural products  from VATArmenian government refused to exempt sales of agricultural products  from VAT
ARARATBANK launches ARARATBANK launches "New Year" campaign - cheap mortgage loans
Net profit of Armenian banks grew by 81.3% y -o-y up to $ 107.1  million over 9 months of 2018Net profit of Armenian banks grew by 81.3% y -o-y up to $ 107.1  million over 9 months of 2018
Breeding poultry farm Breeding poultry farm "Arzni" does not recognize the decision of the  regulator and will appeal against it
Ardshinbank is the winner of Eikon Award 2018 by Thomson ReutersArdshinbank is the winner of Eikon Award 2018 by Thomson Reuters
Tatul Manaseryan: The modest figures included in the country`s budget  for 2019 may be exceededTatul Manaseryan: The modest figures included in the country`s budget  for 2019 may be exceeded
The state initiative on amnesty of bad loans fines did not prevent  increase of overdue loans The state initiative on amnesty of bad loans fines did not prevent  increase of overdue loans 
Armenian government is negotiating to attract a new operator of  Teghut field development projectArmenian government is negotiating to attract a new operator of  Teghut field development project
In a month world`s largest semi-closed greenhouse will be  commissioned in Armenia In a month world`s largest semi-closed greenhouse will be  commissioned in Armenia 
T.Avinyan: The Government is open for cooperation and encourages  active dialogue and interaction in all areas T.Avinyan: The Government is open for cooperation and encourages  active dialogue and interaction in all areas 
EBRD is interested in implementing new projects in the field of  renewable energy in ArmeniaEBRD is interested in implementing new projects in the field of  renewable energy in Armenia
Ameriabank is recognized by Thomson Reuters as the winner in the  category Ameriabank is recognized by Thomson Reuters as the winner in the  category "The Most Active User of the FXT Platform"
Energy Week 2018 Investment Forum to be held in YerevanEnergy Week 2018 Investment Forum to be held in Yerevan
Central Bank of Armenia preferred to maintain the refinancing rate at  6%Central Bank of Armenia preferred to maintain the refinancing rate at  6%
Pashinyan: A number of foreign investors show interest in building  copper smelting plants in Armenia Pashinyan: A number of foreign investors show interest in building  copper smelting plants in Armenia 
SRC Deputy Head: Armenian tax authorities will take measures to  increase non-cash turnover in 2019SRC Deputy Head: Armenian tax authorities will take measures to  increase non-cash turnover in 2019
Nikol Pashinyan: The North-South Road must be built according to the  highest quality standardsNikol Pashinyan: The North-South Road must be built according to the  highest quality standards
Iranian``Ariana Tunnel Dam Co.`` company presented preparatory work  for construction program of Bagratashen bridgeIranian``Ariana Tunnel Dam Co.`` company presented preparatory work  for construction program of Bagratashen bridge
From January 1, 2020, Armenia plans to introduce a system of total  declaration of incomes of citizensFrom January 1, 2020, Armenia plans to introduce a system of total  declaration of incomes of citizens
Beeline launched a mass texting service for corporate clientsBeeline launched a mass texting service for corporate clients
Ministry of Finance: Armenia should not hope for the possibility of  writing off part of the state debt by creditorsMinistry of Finance: Armenia should not hope for the possibility of  writing off part of the state debt by creditors
Agreement on construction of a new unit with combined gas cycle  signed in YerevanAgreement on construction of a new unit with combined gas cycle  signed in Yerevan
Armenia and Georgia discussed Armenia and Georgia discussed "Friendship" border bridge construction  project 
Armswissbank was granted market maker status on the first INECOBANK  dollar bonds- late information Armswissbank was granted market maker status on the first INECOBANK  dollar bonds- late information 
Armenia will create its own database of grape varietiesArmenia will create its own database of grape varieties
EDB: In the short term, we should expect a further slowdown in the  growth of the Armenian economyEDB: In the short term, we should expect a further slowdown in the  growth of the Armenian economy
VWFA study: Several tens of autochthonous grape varieties revealed in  ArmeniaVWFA study: Several tens of autochthonous grape varieties revealed in  Armenia
Minister: Artsakh`s budget in 2019 may be surplusMinister: Artsakh`s budget in 2019 may be surplus
New strategy of Armenia`s mining industry is directed against  New strategy of Armenia`s mining industry is directed against  "offshore hide-and-seak" and aimed at revealing the real owners of  companies
PRC Ambassador: Chinese company Sinohydro Corporation is ready to  take part in the construction of PRC Ambassador: Chinese company Sinohydro Corporation is ready to  take part in the construction of "North-South" in the next phase -  Tranche-4


Exchange rates
15.11.2018
RUB7.310.10
USD487.27-0.69
EUR549.69-0.24
GBP622.97-9.72
CAD368.45-0.10
JPY42.980.14
CNY70.22-0.09
CHF483.930.66

Experts
Association of Organic Agriculture is being created in ArmeniaAssociation of Organic Agriculture is being created in Armenia
Pailak Tadevosyan: Governments change in Armenia, but taxation  approaches do not changePailak Tadevosyan: Governments change in Armenia, but taxation  approaches do not change
Rouben Indjikian: Everyone should follow the established unified and fair rules of the gameRouben Indjikian: Everyone should follow the established unified and fair rules of the game
Mher Arakelyan:  Armenia`s payment business has great prospectsMher Arakelyan:  Armenia`s payment business has great prospects
Rating-Agentur Expert RA GmbH and AmRating issued an industry report  on Armenia`s banking systemRating-Agentur Expert RA GmbH and AmRating issued an industry report on Armenia`s banking system
Igor Nazaruk: Each planted sprout has the right to a successful prospect if it is cherished and taken care ofIgor Nazaruk: Each planted sprout has the right to a successful prospect if it is cherished and taken care of
Ara Khzmalyan: Armenia is comfortable to Russian touristAra Khzmalyan: Armenia is comfortable to Russian tourist
The Armenian delegation to the US followed the advice of President TrumpThe Armenian delegation to the US followed the advice of President Trump
Outflow of population and passivity of the Diaspora pushes property prices downOutflow of population and passivity of the Diaspora pushes property prices down
Finombudsman: Amendments to the Civil Code on the imposition of fines and penalties will reduce the number of outstanding loans and  non-creditworthy consumersFinombudsman: Amendments to the Civil Code on the imposition of fines and penalties will reduce the number of outstanding loans and non-creditworthy consumers
Vahan Shakaryan: If we promote Armenia, the promotion of economic sectors will not be a run with obstacles, but a light run for short distancesVahan Shakaryan: If we promote Armenia, the promotion of economic sectors will not be a run with obstacles, but a light run for short distances
Gagik Aghajanyan: There is no need to look for alternatives - it is necessary to work and develop actual   directionsGagik Aghajanyan: There is no need to look for alternatives - it is necessary to work and develop actual   directions
Vitaly Nesis: Armenia is very promising from the geological point of viewVitaly Nesis: Armenia is very promising from the geological point of view
The market of OSAGO goes into virtual spaceThe market of OSAGO goes into virtual space
Ishkhan Mkhitaryan: ArCa and Mir complete the technological part of the project of interaction, business for banksIshkhan Mkhitaryan: ArCa and Mir complete the technological part of the project of interaction, business for banks
The second stage of implementation of the program for prolonging the lifetime of the power unit N2 of the Armenian NPP beginsThe second stage of implementation of the program for prolonging the lifetime of the power unit N2 of the Armenian NPP begins
Successful business is forging for years - to the jubilee of IC Successful business is forging for years - to the jubilee of IC "INGO Armenia"
Armen Shahnazaryan: The double increase in the insurance portfolio of EIAA ICJSC by the end of 2018 is quite feasibleArmen Shahnazaryan: The double increase in the insurance portfolio of EIAA ICJSC by the end of 2018 is quite feasible
Expert: Real estate market of Armenia started demonstrating weak  signs of recovery in I half-yearExpert: Real estate market of Armenia started demonstrating weak signs of recovery in I half-year
Amulsar: Ecology and РeopleAmulsar: Ecology and Рeople

Search by date

Government Bonds

 

ISIN AMGB1029A250
Auction ID AMGB1029A250A
Date 12.05.2017
Issue date 29.10.2015
Issue volume (AMD) 50 000 000 000
Maturity date 29.10.2025
Coupon year yield 11.00%
Auction volume (AMD) 1000 000 000 - 2.000 000 000
Auction date 12.05.2017
DLS
Total amount (AMD) 1 000 000 000
Amount of the total bids (AMD) 787 200 000
Amount of the total accepted bids (AMD) 787 200 000
Cut of yield (%) 10,6447
Weighted avrage yield (%) 10,6447
Auction max  yield (%) 10,6447
Auction min  yield (%) 10,6447
Number of participants 5
ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000

Commented
Veolia Jur: Regulatory charges are false and unfoundedVeolia Jur: Regulatory charges are false and unfounded
Armenian Prime Minister: We are gaining momentum for economic takeoffArmenian Prime Minister: We are gaining momentum for economic takeoff
By the end of 2018, By the end of 2018, "Galburdjian Group" will launch the production of  sesame oil in Armenia
Expert: Armenia has a problem with effective use of water resources,  rather than small hydropower stationsExpert: Armenia has a problem with effective use of water resources,  rather than small hydropower stations
Investment forum Investment forum "Energy Week 2018" to be held in Armenia
Expert: It is necessary to start implementing the program for the  construction of a new nuclear unitExpert: It is necessary to start implementing the program for the  construction of a new nuclear unit
The updated feasibility study of construction project of electricity transmission line Armenia- Georgia will be ready by the end of the year - the Ministry of EnergyThe updated feasibility study of construction project of electricity transmission line Armenia- Georgia will be ready by the end of the year - the Ministry of Energy
Eurasian Development Bank wishes to expand its activities in ArmeniaEurasian Development Bank wishes to expand its activities in Armenia
$ 100 million to be invested in repatriation project Build Armenia$ 100 million to be invested in repatriation project Build Armenia
FRV: Armenia`s growing desire to increase renewable energy sources is  a decisive factorFRV: Armenia`s growing desire to increase renewable energy sources is a decisive factor
Suren Papikyan: It`s safe now to do business in Armenia, assures  Armenian MinisterSuren Papikyan: It`s safe now to do business in Armenia, assures  Armenian Minister
Armenian state debt started reducing up to $6.7 bln to June 1 2018Armenian state debt started reducing up to $6.7 bln to June 1 2018
Minister: Implementation of program on liberalization of the electric  power complex of Armenia will be completed within the next two yearsMinister: Implementation of program on liberalization of the electric  power complex of Armenia will be completed within the next two years
Nikol Pashinyan: In a number of cases after paying fines and  penalties the borrowers will be allowed to take new loan Nikol Pashinyan: In a number of cases after paying fines and  penalties the borrowers will be allowed to take new loan 
German bank KFW urges Armenia to build power line in the direction to  GeorgiaGerman bank KFW urges Armenia to build power line in the direction to  Georgia
Anna Chobanyan-one of most likely candidates for new Head of General  Department of Civil Aviation Anna Chobanyan-one of most likely candidates for new Head of General  Department of Civil Aviation 
IFAD confirms its readiness to develop and implement new joint programs with Armenia`s Agriculture MinistryIFAD confirms its readiness to develop and implement new joint programs with Armenia`s Agriculture Ministry
Rosselkhoznadzor asks not politicize the issue of deliveries of tomatoes from Armenia to RussiaRosselkhoznadzor asks not politicize the issue of deliveries of tomatoes from Armenia to Russia
Armenian nuclear power station has a resource for work for another 30  yearsArmenian nuclear power station has a resource for work for another 30 years
Premier: Construction of a new nuclear power plant in Armenia is one of the priorities of the new government of the countryPremier: Construction of a new nuclear power plant in Armenia is one of the priorities of the new government of the country
In Armenia, an online service has been activated that allows  calculating the cost of customs clearance of a carIn Armenia, an online service has been activated that allows calculating the cost of customs clearance of a car
Gyumri programmers won on hekaton Gyumri programmers won on hekaton "Innovative ideas for tourism development"
Armenian Lori opens a large international ski resortArmenian Lori opens a large international ski resort
A number of light and alcohol industry enterprises of Armenia will be  provided with state supportA number of light and alcohol industry enterprises of Armenia will be provided with state support
Expert: The attitude of Armenian public to the nuclear power industry is demonstrated not by the promiseExpert: The attitude of Armenian public to the nuclear power industry is demonstrated not by the promise
Expert: The biggest gap in procurement legislation is the lack of an institution for accountability for its violationExpert: The biggest gap in procurement legislation is the lack of an institution for accountability for its violation
Maxim Sokolov: Russian Federation remains the main trade partner of  ArmeniaMaxim Sokolov: Russian Federation remains the main trade partner of Armenia