RA PRIME MINISTER RECEIVES PRESIDENT OF ALROSA OJSC

Economic News
December 25, 2007 Tuesday

Yerevan. ">OREANDA-NEWS . December 24, 2007. Mr. Vybornov briefed
the Prime Minister on the activities aiming the resumption of the
Armenian-Russian cooperation in the field of jewelry and articles of
gold as implemented after the signing of the cooperation agreement
with the Government of Armenia in the month of August. The agreement
envisages supply of raw materials to Armenian companies on the part
of ALROSA with processing purposes.

The products so processed will be offered for sale to Armenian and
Russian companies on the recommendation of ALROSA. Mr. Vybornov
further advised that in order to prepare for signing the package
of relevant agreements, a recently formed task force consisting of
ALROSA’s experts and representatives of leading Russian silverware
and jewelry manufacturing companies has already carried out a study of
the possibilities of Armenian diamond-processing companies inclusive
of their technological capacity, the quality standards of the output
etc. According to Mr. Vybornov, his company has already formed a
true idea of said companies’ possibilities and believes that there
are good prospects for collaboration. He assured that the first lot
of raw materials is due to arrive in Armenia before this end-of-year.

The President of ALROSA thanked the Prime Minister for willingness
of cooperation and thoughtfulness and went on to mention that Head
of Russian Government Victor Zubkov was keeping this important deal
under his close attention.