GAS HIKES TO AFFECT ARMENIAN INDUSTRY, OFFICIAL SAYS
Armenpress
Mar 07 2006
YEREVAN, MARCH 7, ARMENPRESS: Armenal foil plant has issued in February
the first output-100 tons of foil, after accomplishing a major $70
million modernization project. Arthur Ashughian, head of a department
of the trade and economic development ministry, told a news conference
today that the annual volume of foil production will reach 25,000 tons.
Ashughian said Russia’s decision to double the price of natural
gas it sells to Armenia would lead to higher primary cost of local
metallurgical industry’s products. He said the share of energy in the
primary cost of metallurgical products makes now from 30 to 42 percent
and when the gas price raises it will be from 52 to 60 percent. He
said higher gas price may kill Armenian cement industry and make it
unable to compete with other regional producers.
He also said Armenia’s metallurgical industry produced $31.7 million
worth output in January. He said prospecting in Getik mine by Global
Mines has showed that it has some reserves of uranium, but added it was
premature to talk about whether they may have industrial significance.