VANADZOR CHEMICAL PLANT MAY LAUNCH CARBAMIDE PRODUCTION ON APRIL 1: ARMENIAN PREMIER

ARKA
March 19, 2009

YEREVAN, March 19. /ARKA/. Armenia’s Vanadzor Khimprom chemical plant
is likely to launch carbamide production on April 1, with the first
output expected in six months, RA Prime Minister Tigran Sargsyan said
Wednesday after his visit to the plant.

"This will enable the plant to expand its capacities and re-employ
around 550 workers, as Vanadzor heat station is also going to open
soon," the premier was quoted saying.

Sargsyan said the government stands ready to support the plant in
marketing carbamide.

"The annual demand for potash manure that needs replenishment every
three years may reach $9mln," he said, adding the government annually
procures around 25,000 tons of fertilizers.

If the government allocates subsidies for carbamide procurement,
farms will benefit from the relatively low price and high quality of
carbamide fertilizers, the prime minister said.

Prometey-Khimprom CJSC resumed operation in 2005. After an abortive
attempt to transfer the plant to the Slovakian Dividend Group, the
plant was re-operated by it actual owner, Zakneftegazstroy-Prometey
OJSC (Russia), which purchased the plant for $1.5mln in May 1999.

From: Emil Lazarian | Ararat NewsPress