CHINVAN COMPANY IN VANADZOR TO ASSEMBLE BELARUSIAN TRACTORS

Noyan Tapan
Aug 12, 2009

YEREVAN, AUGUST 12, NOYAN TAPAN. The RA Ministry of Economy and
a Belarusian delegation on August 12 signed an agreement, by
which one of Belarusian machine-building companies will supply
equipment to Vanadzor-based Chinvan company which will assemble
Belarusian-manufactured tractors and provide guarantee services. Head
of the Trade and Efficient Markets Department of the RA Ministry
of Economy Gagik Kocharian announced this during an interview to
reporters of some media outlets, including Noyan Tapan correspondent.

According to him, the company will annually assemble 50 tractors,
which will also be exported to other regional countries in the
future. The first lot of 4 tractors of different models will be
displayed at Armenia Expo to be held in Yerevan’s Sport and Concert
Complex on September 4-6. Due to lack of time, tractors assembled in
Belarus are likely to be presented at the exhibition.

G. Kocharian said that so far Chinvan company (the state has a stake in
it) has imported tractor parts from China to assemble them on the spot.

"Belarusian tractors are in great demand because our people are
accustomed to them," he noted. VTB Bank will finance the deal. By
estimates, the indicated agreement will enable to create 20-30 jobs.