RUSAL-ARMENAL TO MANUFACTURE IN MARCH FIRST 100 TONS OF PRODUCTION AFTER BEING RELAUNCHED

Noyan Tapan
Mar 07 2006

YEREVAN, MARCH 7, NOYAN TAPAN. RusAl-ArmenAl CJSC resumed its operation
in February and will manufacture the first 100 tons of its production
in March.

Artur Ashughian, Head of the Nature Use Economics and Mining Industry
Department of the RA Ministry of Trade and Economic Development,
said it at the March 7 press conference.

In his words, in 2005 alone, the company made investments of 39
mln euros for equipment modernization, which allowed the company
to produce 7 micron wide foil which is in great demand on the
international market.

To recap, work on re-equipment of RusAl-ArmenAl started in the
4th quarter of 2004. The first stage of the work was completed in
December 2005. 70 mln USD was spent on re-equipment of the enterprise,
with 30-35% of this amount being spent as salaries and payments for
equipment supply.

It is envisaged that since 2006 the enterprise will produce 25 thousand
tons of foil a year, with an annual production of 9 micron wide foil
amounting to 18 thousand tons.