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groong: Armenia privatizes 53 companies in first six months of 2003

Yerevan, 18 August: A total of 53 enterprises (companies) were
privatized in the first half of 2003 in Armenia. Of these, 43 were
privatized via direct sale, seven were put out to tender, two were
auctioned and one enterprise was privatized by free subscription for
state shares. The press secretary for the Armenian government’s state
property department, Manuk Ter-Stepanyan, told our agency that the
revenue to the state budget from privatization over that period
amounted to about 1.6bn drams (up to 2m dollars), including 814m
drams (1.5m dollars) from the privatization of enterprises, 334m
drams (602,305 dollars) from the privatization of small facilities
and 5.7m drams (10,000 dollars) from the privatization of incomplete

Ter-Stepanyan said that over the period, the Armenian government
decided to liquidate 17 companies, four companies were dissolved and
17 were currently in the process of liquidation. The courts declared
12 companies insolvent and another 11 cases are still in court.

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