Armenian PM visits ARMENAL mill, discusses metallurgy development

PanARMENIAN.Net - On March 2, Armenian Prime Minster visited ARMENAL mill, subsidiary of RUSAL Company, familiarized himself with the operation of the only foil enterprise in the Caucasus and in Central Asia.

Tigran Sargsyan favored the stable growth of production and export volume, increase in pay which is by 2,5 times higher than the average recorded in the republic, as well as the tax deducted by the factory to the state budget.

In 2011 ARMENAL aluminum foil production volume totaled 25,3 thous. tons, which 2,7% higher than the 2010 index, export volume grossed USD 87 mln. (10,8% increase), replenishing the state budget with AMD 1,43 bln. (13,6% increase) at an average salary of AMD 268,6 thous. (8,5% growth).

Afterwards the PM held a meeting with Armenian Economy Minster Tigran Davtyan, RUSAL packaging division director Sergey Goryachev, Chairman of the Union of Manufacturers and Businessmen of Armenia Arsen Ghazaryan, as well as heads of metallurgical enterprises of the republic.

The problems and development prospects of metallurgical industry, as well as array of issues related to Armenia-EU talks on free trade zone formation was on discussion agenda.

Tigran Sargsyan stressed the importance of projects aimed at introducing modern technology, boosting production volume to secure competitiveness of metallurgical industry including that of ARMENAL in the European market.

“European market will be open for local businesses if progress is recorded during negations. It is of crucial importance for ARMENAL due to the profit it may ensure,” he said.

In this context, the PM said that the law “on free economic zones” has already taken effect in Armenia, noting “government’s readiness to hold discussions on the issue with private inventors.”

28 companies currently operate in the field of Armenian metallurgy.