AGREEMENT ON VANADZOR CHEMICAL COMPLEX’S PUTTING INTO OPERATION TO BE
SIGNED IN JANUARY
BRATISLAVA, December 30 (Noyan Tapan). The negotiations on the sale of
the Vanadzor Chemical Complex to the Slovakian “Dividend Group”
holding is completing. According to businessman Ashot Grigorian, the
organizer of the transaction and main partner living in Slovakia, the
preliminary agreement on lease and launching of the plant will be
signed in January 2005. The leaser, i.e. the Slovakian side, has to
take care of all the expenditures of the further output (salary, lease
of equipment) and provide the management. Mr. Grigorian reminded that
the negotiations carried on since the beginning of this year, in
April, reached a deadlock as a result of the strange actions of the
owner, the “Prometevs” CJSC, and some Armenians officials. Only after
the establishment of the state commission by the RA President it
succeeded in returning the matter in its normal state. Losing over
half year of precious time, the Slovakian delegation headed by Ashot
Grigorian and President of “Dividend Group” Frantishek Zvrshkovez
arrived in Armenia in early December. Ashot Grigorian mentioned that
after the Vanadzor Chemical Complex’s putting into operation it is
expected that other enterprises will be established in the territory
of Vanadzor as the entrance of “Divident Group” in Armenia gives rise
to the interest of other great European companies with whom he has
reached some agreements on investments. After the signing of the
agreement with “Divident Group” in January A. Grigorian hopes that
other partners will also visit Vanadzor.