PRODUCTION OF ABIT LLC WILL FULLY MEET ARMENIA’S DEMAND FOR ASPHALT

ArmInfo
2009-05-15 19:41:00

ArmInfo. 45% of the newly established air-blown road and construction
bitumen plant belongs to Armenia, 55% to private Russian capital, the
director of Abit LLC Nelli Voskanyan said during a press-conference
today.

The Russian party has provided technologies and equipment for the
project.

‘Since Armenia lacks oil specialists we have yet reached verbal
agreement but we hope to shortly sign a contract for primary operation
of the plant. Until then we will hopefully train own specialists.’ At
the initial stage we are planning to produce road asphalt and later
construction bitumen,’ Voskanyan said.

‘Our production will fully meet Armenia’s demand for bitumen. Each
year the plant will produce 46,000 tons of fuel for boilers, part of
which will be sold outside Armenia.’ ‘This is a very risky venture.

The country imports raw materials from other countries. Besides,
today, in the face of the crisis, it has become a big problem to
start up a new business. However, even approximate estimates show
that this venture will pay off,’ Voskanyan said. She said that as a
result of the opening of the plant the domestic bitumen prices would
drop by 30%. Presently the company has 80 employees. By the end of
this year its staff may grow to 250. The average salary is 120,000 AMD.

From: Emil Lazarian | Ararat NewsPress