VTB Bank may hand over Alaverdi smelter to Armenian government
17.09.2019,
15:21
The copper smelter in the northern town of Alaverdi may be handed over to the Armenian government, Armenian Prime Minister Nikol Pashinyan said at a press conference in Vanadzor on September 16.
YEREVAN, September 17. /ARKA/. The copper smelter in the northern town of Alaverdi may be handed over to the Armenian government, Armenian Prime Minister Nikol Pashinyan said at a press conference in Vanadzor on September 16.
He said this issue was discussed with the governor of the Lori region, where the smelter is. Saying that he did not want to give any comments ahead of time, Pashinyan suggested simply taking note of this information.
“I do not want to say anything that could have a negative impact on this process,” the prime minister said. He recalled that VTB President and Chairman Andrei Kostin at a meeting in St. Petersburg back in 2009 said the bank was ready to give the smelter to the Armenian government.
The prime minister said there are a number of parallel trials, involving the smelter which would take time to resolve. He promised to organize the entire process as efficiently as possible.
During the press conference, Pashinyan announced that the Teghut copper mine in Lori resumed operation, suspended in February 2018 by its developer, Vallex Group of Companies, as a result of which more than a thousand people became unemployed.
Pashinyan recalled that a $380 million loan for the development of the mine was allocated by VTB Bank, which actually has become its owner. At the moment, the production capacity of the enterprise allows processing up to 50 thousand tons of copper concentrate per year and producing 13 thousand tons of blister copper. --0—
He said this issue was discussed with the governor of the Lori region, where the smelter is. Saying that he did not want to give any comments ahead of time, Pashinyan suggested simply taking note of this information.
“I do not want to say anything that could have a negative impact on this process,” the prime minister said. He recalled that VTB President and Chairman Andrei Kostin at a meeting in St. Petersburg back in 2009 said the bank was ready to give the smelter to the Armenian government.
The prime minister said there are a number of parallel trials, involving the smelter which would take time to resolve. He promised to organize the entire process as efficiently as possible.
During the press conference, Pashinyan announced that the Teghut copper mine in Lori resumed operation, suspended in February 2018 by its developer, Vallex Group of Companies, as a result of which more than a thousand people became unemployed.
Pashinyan recalled that a $380 million loan for the development of the mine was allocated by VTB Bank, which actually has become its owner. At the moment, the production capacity of the enterprise allows processing up to 50 thousand tons of copper concentrate per year and producing 13 thousand tons of blister copper. --0—
