Cronimet finds investment environment in Armenia favorable
03.08.2007,
03:22
German Cronimet finds investment environment in Armenia favorable, Gunter Pilarski, president of Cronimet Company holding the control package of Armenian Zangezur Copper Molybdenum Plant’s and Yerevan Pure Iron Plant’s shares.
YEREVAN, August 2. /ARKA/. German Cronimet finds investment environment in Armenia favorable, Gunter Pilarski, president of Cronimet Company holding the control package of Armenian Zangezur Copper Molybdenum Plant’s and Yerevan Pure Iron Plant’s shares.
He said the company has realized for a decade of its presence in Armenia that investment environment is favorable here.
Pilarsli said that after successful investment in Yerevan Pure Iron Plant, the company decided to enlarge its activity in the country and bought Zangezur Copper Molybdenum Plant’s control package.
51% of Yerevan Pure Iron Plant’s and 60% of Zangezur Copper Molybdenum Plant’s shares belong to Cronimet.
Zangezur Copper Molybdenum Plant CJSC is Armenia’s biggest mining company.
The plant’s investment program for 2005 to 2020 costs $240mln.
The plant ensures 3% of the world molybdenum concentrates production.
The molybdenum concentrate produced here contains 50% of molybdenum and at least 15% of copper.
Yerevan Pure Iron Plant was launched in 1996. The plant ceased functioning in 1990 and resumed operating in 1994. In 1995, it was privatized.
The plant receives molybdenum concentrate from Zangezur Copper Molybdenum Plant and produces ferromolybdenum and pure molybdenum and exports them to European markets through Cronimet. M.V.-0---
He said the company has realized for a decade of its presence in Armenia that investment environment is favorable here.
Pilarsli said that after successful investment in Yerevan Pure Iron Plant, the company decided to enlarge its activity in the country and bought Zangezur Copper Molybdenum Plant’s control package.
51% of Yerevan Pure Iron Plant’s and 60% of Zangezur Copper Molybdenum Plant’s shares belong to Cronimet.
Zangezur Copper Molybdenum Plant CJSC is Armenia’s biggest mining company.
The plant’s investment program for 2005 to 2020 costs $240mln.
The plant ensures 3% of the world molybdenum concentrates production.
The molybdenum concentrate produced here contains 50% of molybdenum and at least 15% of copper.
Yerevan Pure Iron Plant was launched in 1996. The plant ceased functioning in 1990 and resumed operating in 1994. In 1995, it was privatized.
The plant receives molybdenum concentrate from Zangezur Copper Molybdenum Plant and produces ferromolybdenum and pure molybdenum and exports them to European markets through Cronimet. M.V.-0---
