ArmInfo. The sole producer of aluminum foil in the Caucasus and Central Asia, Rusal-Armenal, will invest 2.4 bln AMD for to enhance production capacities and increase assortment of products.
Armenian government on the regular session on July 29 made a decision to postpone for three years the payment of VAT on import of goods and equipment of companies. Economy Minister Artsvik Minasyan said under the company's investment package, 800 million drams will be invested in the purchase of equipment. In his words, in 2016, the salary of the plant's employees averaged 378,000 drams, in 2017- 2018 - it will
average about 390,000 drams. Four news workplaces will open at the company, the minister said.
RUSAL is a leading, global aluminium producer. The company's main products are primary aluminium, aluminium alloys, foil and alumina. RUSAL is a completely vertically intergrated aluminium company with assets right through the production process - from bauxite and nepheline ore mines to aluminium smelters and foil mills. This provides RUSAL with exceptional operational flexibility and enables it to control every stage of the manufacturing process and ensure the highest quality of products.
RUSAL operates in 19 countries on 5 continents. The company's core smelting capacities are located in Siberia, thus benefiting from the access to the renewable and environmentally clean hydropower and the proximity to the thriving market of China.
Armenal foil-rolling plant has been created in May, 2000, on the basis of Kanaker aluminum plant. Armenal is one of the biggest industrial enterprises of Armenia and the only producer of aluminum foil in the Caucasus and Central Asia. RUSAL Russian Company is the owner of Armenal CJSC. In 2015, the company produced 29.6 thousand tons of aluminum foil, amid 45.7% decile of foil rolling to 10.7 tons
versus 10.7% a year ago. The production is mostly exported to Europe (4.5-fold growth in 2015) and U.S.