IT IS EXPECTED THAT THREE LARGE-SCALE INVESTMENT PROGRAMS TO BE
IMPLEMENTED AT “MARS” ENTERPRISE

YEREVAN, August 6 (Noyan Tapan). Investments of a total of 200 mln
drams (about 364,000 dollars) were made in the Yerevan “Mars” CJSC
after its assignation to the Russian government within the framework
of the “Property for Debt” program. The sums are mainly directed at
the marketing researches, the reconstruction of the heating system and
the increase of salaries about two-fold. Radik Vanunts, Director
General of “Mars”, reported during the August 5 press conference that
“Mars” is one of 30 enterprises of the military-industrial sphere of
Russia. According to Radik Vanunts, in the past production depended on
orders, that’s why “Mars” hasn’t turned out basic output up to now. At
present the new owners of the company work in this direction. Three
large-scale investment programs will be implemented at the enterprise
in the future. It was noticed that till the end of this year the
company will prepare five experimental models of radio stations worked
up by the Voronezh Institute of Communications. 2.5 years and the
investments of 4.7 mln dollars are necessary for the implementation of
another investment program. The third investment program concerns the
sphere of high technologies. It was also noticed that it is expected
that the certain funds will be allocated to the enterprise by the 2005
state budget of Russia for the performance of the orders. To recap,
“Mars” is the most expensive entity among the five enterprises given
to Russia against the debt. It is estimated at 56 mln dollars. The
Moscow “Radioexport” state-owned enterprise is appointed by the
Russian government plenipotentiary manager of the Yerevan “Mars” CJSC.