KOCHARIAN VISITS TWO PLANTS

ArmenPress
26 Oct 2004

YEREVAN, OCTOBER 26, ARMENPRESS: President Robert Kocharian visited
today two plants, Neo Lita, specializing in processing of stones and
Armenian Molybdenum Production. Later speaking to reporters he said
both plants were an evidence of rather extensive investments in these
sectors. The president said he had met personally with the investor
in the stone processing factory, that can boasts of modern equipment
and high manufacturing culture. He said “we shall do everything to
create favorable conditions for establishing new industries.”

Speaking about the success of the molybdenum plant the president said
“we are in the process that can be described as revival of molybdenum
industry.” He said he had discussed with the plant’s managers its
future operation in connection with the pending privatization of the
biggest Zangezur molybdenum plant in south Armenia. The molybdenum
plant together with another one, Makur Yerkat, are included in the
Zangezur privatization package.

Armenian molybdenum plants are supposed to stop exporting molybdenum
concentrate from next year, instead they will sell the finished
product-fero-molybdenum, part of which will be in the form of pure
molybdenum.