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
Armenia ranks 3rd in terms of the number of requested certificates  for a permanent residence permit in GeorgiaArmenia ranks 3rd in terms of the number of requested certificates  for a permanent residence permit in Georgia
HSBC Armenia named Best Cash Management Bank by Euromoney  HSBC Armenia named Best Cash Management Bank by Euromoney  
Finances, energy, medicine and tourism are the priority sectors of  IFC`s cooperation with Armenia Finances, energy, medicine and tourism are the priority sectors of  IFC`s cooperation with Armenia 
In Armenia by October 2019 birth rate decreased by 0.1%, with an  increase in mortality by 2.2% In Armenia by October 2019 birth rate decreased by 0.1%, with an  increase in mortality by 2.2% 
Conference - Exhibition of Pharmaceutical Business India-Armenia Held  in YerevanConference - Exhibition of Pharmaceutical Business India-Armenia Held  in Yerevan
Statistics: In January-September 2019 the population of Armenia  decreased by 11.7 thousand people.Statistics: In January-September 2019 the population of Armenia  decreased by 11.7 thousand people.
Nikol Pashinyan expressed dissatisfaction with the implementation of  subvention programs in YeghegnadzorNikol Pashinyan expressed dissatisfaction with the implementation of  subvention programs in Yeghegnadzor
Nikol Pashinyan familiarized with the process of implementing  subvention and other programs in the Syunik regionNikol Pashinyan familiarized with the process of implementing  subvention and other programs in the Syunik region
Armenian citizens make money and get rid of the burden of mortgage  loans ahead of schedule - PashinyanArmenian citizens make money and get rid of the burden of mortgage  loans ahead of schedule - Pashinyan
Pashinyan: Armenia is an attractive country for foreign investmentPashinyan: Armenia is an attractive country for foreign investment
Deputy Prime Minister: Armenia is ready to host the participants of  the EBRD annual meeting at the highest levelDeputy Prime Minister: Armenia is ready to host the participants of  the EBRD annual meeting at the highest level
Ministry of Finance: Henceforth, to participate in public  procurement, enterprises must provide information on a bank guaranteeMinistry of Finance: Henceforth, to participate in public  procurement, enterprises must provide information on a bank guarantee
Minister: The Government of Armenia is exploring various options for  improving transport links with the EAEU countriesMinister: The Government of Armenia is exploring various options for  improving transport links with the EAEU countries
Minister: The Russian side has doubts about the country producing  blue cheese Minister: The Russian side has doubts about the country producing  blue cheese 
GK DASOYAN Group of Companies opens a new knitwear factory in  AlaverdiGK DASOYAN Group of Companies opens a new knitwear factory in  Alaverdi
Beeline has concluded the largest landline network modernization  project in the company`s historyBeeline has concluded the largest landline network modernization  project in the company`s history
In October 2019, compared with October 2018, the passenger flow  through the airports of Armenia increased by 12.6%In October 2019, compared with October 2018, the passenger flow  through the airports of Armenia increased by 12.6%
Reuters: Economic Reforms Bring Armenia Into the Perspective of  Income-Craving InvestorsReuters: Economic Reforms Bring Armenia Into the Perspective of  Income-Craving Investors
Armenian State Control Service studies legality and effectiveness of  investment processes initiated after the victory of the Armenian State Control Service studies legality and effectiveness of  investment processes initiated after the victory of the "velvet  revolution"
Tigran Avinyan spoke about scientific and technological potential of  Armenia at a meeting with the leadership of HuaweiTigran Avinyan spoke about scientific and technological potential of  Armenia at a meeting with the leadership of Huawei
"Designed in Italy, Made in Armenia" - "Ceramisia" Armenian-Italian  joint venture production was opened in Armenia
Georgia and Armenia will switch to Free-Route Airspace regimeGeorgia and Armenia will switch to Free-Route Airspace regime
The metallurgical industry of Armenia had growth since October 2019The metallurgical industry of Armenia had growth since October 2019
Output of aluminum foil had positive tendency in Armenia in  January-September 2019Output of aluminum foil had positive tendency in Armenia in  January-September 2019
Electricity generation decreased by 2.2% in January-September 2019Electricity generation decreased by 2.2% in January-September 2019
Russian Railways: The RA Rail Management Concession Agreement may be  updateRussian Railways: The RA Rail Management Concession Agreement may be  update
Armenian wines and brandies were presented at China International  Import ExpoArmenian wines and brandies were presented at China International  Import Expo
Ardshinbank Meets Armenia s Representative at Junior Eurovision 2019Ardshinbank Meets Armenia s Representative at Junior Eurovision 2019
Pashinyan at the celebration of the 15th anniversary of the founding  of Synopsys Armenia: Knowledge for us is a means of expanding the  boundaries of the possiblePashinyan at the celebration of the 15th anniversary of the founding  of Synopsys Armenia: Knowledge for us is a means of expanding the  boundaries of the possible
State budget proficit of Armenia increased by October 2019 to $ 199.8  millionState budget proficit of Armenia increased by October 2019 to $ 199.8  million


Exchange rates
08.11.2019
RUB7.47-0.03
USD477.47-0.17
EUR526.75-2.05
GBP611.21-2.98
CAD361.52-1.12
JPY43.64-0.12
CNY68.220.04
CHF479.38-1.23


Experts
During the first 5 years, the agricultural insurance market in Armenia will operate at a lossDuring the first 5 years, the agricultural insurance market in Armenia will operate at a loss
Artak Kamalyan: Education is the key to success. Everything else is of secondary importanceArtak Kamalyan: Education is the key to success. Everything else is of secondary importance
Head of PSRC: Whatever the agreement, the domestic tariff is  dependent on the price at the borderHead of PSRC: Whatever the agreement, the domestic tariff is  dependent on the price at the border
IMF: Armenia needs to achieve sustainable inclusive growthIMF: Armenia needs to achieve sustainable inclusive growth
Artur Atoyan: Problems of fish farmers are solved by the communist  method, that is, they are not solved at allArtur Atoyan: Problems of fish farmers are solved by the communist  method, that is, they are not solved at all
HSBC Bank Armenia digitalizes cooperation with retail clients HSBC Bank Armenia digitalizes cooperation with retail clients 
AmRating agency in cooperation with European Rating-Agentur Expert RA  GmbH has issued regular research on Armenia`s banking systemAmRating agency in cooperation with European Rating-Agentur Expert RA  GmbH has issued regular research on Armenia`s banking system
Yulia Ustyugova: Armenia can get access to IMF “insurance line”Yulia Ustyugova: Armenia can get access to IMF “insurance line”
Armand Arton: The question whether citizenship should be granted in  return for investments is rather rhetoricalArmand Arton: The question whether citizenship should be granted in  return for investments is rather rhetorical
Former head of the Ministry of Finance: <Confrontation> with Lydian may cost much to ArmeniaFormer head of the Ministry of Finance: with Lydian may cost much to Armenia
Vardan Aramyan: It will be unreasonable if the government goes to revise the allowable national debt ceiling in GDPVardan Aramyan: It will be unreasonable if the government goes to revise the allowable national debt ceiling in GDP
HSBC Bank Armenia increases efficiency and focuses on digital servicesHSBC Bank Armenia increases efficiency and focuses on digital services
Bulgarian Minister: The level of Armenian-Bulgarian economic  cooperation is still unsatisfactoryBulgarian Minister: The level of Armenian-Bulgarian economic  cooperation is still unsatisfactory
Expert: Recruitment market in Armenia from the point of view of  supply and demand is sleepingExpert: Recruitment market in Armenia from the point of view of  supply and demand is sleeping
Expert: Despite the adequacy of Armenian banks` capitals, the  opportunities for its optimal use are severely limitedExpert: Despite the adequacy of Armenian banks` capitals, the  opportunities for its optimal use are severely limited
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

Search by date

Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

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
Russian processing company Russian processing company "MultiCarta" discussed cooperation  opportunities with Yerevan Municipality in the transport sector
$ 270 Million to be invested in the construction of the first  skyscraper in Yerevan$ 270 Million to be invested in the construction of the first  skyscraper in Yerevan
The AGBU Women Entrepreneurs Program Launched in Artsakh: FRUITFUL  ARMENIA Foundation is the partnerThe AGBU Women Entrepreneurs Program Launched in Artsakh: FRUITFUL  ARMENIA Foundation is the partner
Forecast: Armenia has good prospects for expanding its presence in  the Polish marketForecast: Armenia has good prospects for expanding its presence in  the Polish market
Armenian government`s delegation headed by Prime Minister will take  part in the St. Petersburg International Economic Forum on June 6-7Armenian government`s delegation headed by Prime Minister will take  part in the St. Petersburg International Economic Forum on June 6-7
Concessionaire of Zvartnots International Airport promises to become  one of the best operators in the worldConcessionaire of Zvartnots International Airport promises to become  one of the best operators in the world
Arthur Javadyan: Central banks are not responsible for economic  growthArthur Javadyan: Central banks are not responsible for economic  growth
Forecast: Electricity exports to the Middle East through Iran are a  key component of Armenia`s geo- economic strategyForecast: Electricity exports to the Middle East through Iran are a  key component of Armenia`s geo- economic strategy
ArmInfo IC: In Armenia,  CMTPL loss ratio increased up to 64.5% in Q1  2019ArmInfo IC: In Armenia,  CMTPL loss ratio increased up to 64.5% in Q1  2019
From January 1, 2020, the cost of customs clearance of cars from  non-EEU countries in Armenia will increase by at least 4-5 fold:  whether the market for used cars is going upFrom January 1, 2020, the cost of customs clearance of cars from  non-EEU countries in Armenia will increase by at least 4-5 fold:  whether the market for used cars is going up
Overdue loans accelerate growth in banking system of ArmeniaOverdue loans accelerate growth in banking system of Armenia
RA Prime Minister: European Union is not ready to finance 100% of  development programs implementation in ArmeniaRA Prime Minister: European Union is not ready to finance 100% of  development programs implementation in Armenia
Converse Bank offers online loans at a low effective interest rateConverse Bank offers online loans at a low effective interest rate
Renco company will attract additional shareholders and partners to  the project of building a new thermal-power plant in ArmeniaRenco company will attract additional shareholders and partners to  the project of building a new thermal-power plant 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 
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
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
Through the mobile banking application of Ardshinbank you can get a  loan in seconds.Through the mobile banking application of Ardshinbank you can get a  loan in seconds.
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