‘VALLEX’ GROUP OF COMPANIES ANNOUNCES RESULTS OF TENDER FOR FULFILLMENT OF TREE-PLANTING WORK IN TEGHUT FOREST AREA

ArmInfo
2009-04-18 13:57:00

ArmInfo. During the meeting of the relevant competition commission,
‘Vallex’ Group of companies announced the results of the tender
for fulfillment of tree-planting work in Teghut forest area, the
press release received by ArmInfo from ‘Vallex’ Public Relations
Department says.

The tender results were summed up in the office of T’eghut’ CJSC in
Yerevan under chairmanship of Head of the tender commission, deputy
Director of ‘Hayantar’ (‘Armles’) Company of Armenia’s Agriculture
Ministry Ruben Petrosyan. ‘Tree Gren’ Ltd and ‘Aghavnatur’ Ltd have
been recognized the tender winners. The first of them will perform
tree-planting work at the section of 67 hectares in the territory of
Teghut and Shnokh communities of Lori region. The Company’s price
proposal made up 908,6 thsd drams per hectare. ‘Aghavnatur’ Ltd
will carry out forest plantation on 68 hectares in the territory of
Arevatsag and Mghart communities of Lori region, the price proposal
makes up 973,4 thsd drams per hectare. The relevant contracts will
be signed with the tender winners till April 30, 2009. To recall,
forest plantations are held within the frames of the ‘Programme of
compensation for the damage caused to the forestry as a result of
deforestation for fulfillment of the programme of exploitation of
Teghut mine’.

A competition commission was created within the frames of the programme
which includes representatives of the Agriculture and Ecology
Ministries and ‘Teghut’ CJSC. It is envisaged to totally perform
tree-planting work within the programme in the territory of 714 Ha,
that twice exceeds the area of deforestation, the Company message says.

To recall, it is scheduled to annually extract 25-30 thsd tons of
copper and 800 tons of molybdenum at Teghut deposit, that will assure
40-50% of the total copper mining and to 20% of molybdenum mining over
the republic in general. The license for exploitation of the deposit
was given to ACP company (Armenian Copper Programme), being part of
‘Vallex’ Group, in 2001 for 25-year period. ‘Teghut’ CJSC was created
specially for development of Teghut deposit.