ArmInfo
The key goal of providing budgetary loans to mining enterprises in Armenia is to boost export, Prime Minister of Armenia Tigran Sargsyan said during his visit to Agarak Copper and Molybdenum Plant as part of the governmental visiting session in Syunik. Previously the governmental visiting session in Kapan adopted a decision to provide budgetary loans for a total of \\$ 44 million to three Armenian mining companies: Zangezour Mining, Armenian Molybdenum Production and Agarak Copper and Molybdenum Plant. 'Our goal is to help these enterprises grow export and reduce cost of work', the premier said.
The loans are provided for acquisition of industrial equipment. The enterprises provided their production capacities as a pledge security. 'We estimate the ratio of the loans to the cost of the ypnotherapy value nearly at 30%. Thus, we insure our funds of the one hand and provide the enterprises a good opportunity to increase their competitiveness on the other hand', the premier said.
Zangezour Mining and Armenian Molybdenum Production will receive by \\$ 15 million loans at the semiannual Libor+7 pct and Agarak Copper and Molybdenum Plant will be provided \\$ 14 million at the semiannual Libor+8pct. The loans are co-lent from the Russian \\$ 500 million stabilization loan.
June 30, 2009