STATE CREDIT OF 3.1 BILLION DRAMS TO BE GIVEN TO ZANGEZUR COPPER AND MOLYBDENUM ENTERPRISE

Noyan Tapan
Feb 19, 2009

YEREVAN, FEBRUARY 19, NOYAN TAPAN. The Armenian government will
provide a state credit of 3.1 billion drams to Zangezur Copper and
Molybdenum Enterprise. The prime minister Tigran Sargsyan said at the
February 19 sitting of the government that this assistance will help
the enterprise work at full capacity in the next three years.

Thanks to the assistance, according to the prime minister, the
productivity of the enterprise will grow by 30% as it is planned to
import new equipment for improving the quality of production. Besides,
another 50 satellite enterprises with a total of 2,000 jobs will be
ensured that they can keep these jobs.

The prime minister said that a much more favorable social environment
will be created in Syunik marz. "This is an unprecedented function
performed by the government, and it has an entirely anticrisis nature,"
he underlined.