AGARAK, DECEMBER 16, ARMENPRESS: The copper and molybdenum plant in the southern Armenian Agarak, near the border with Iran, plans to produce next year 7 tons of molybdenum and 6,000 tons of copper concentrate.
The plan’s 100 percent shares were privatized last April by a US-based Comsup Industries Ltd, which says it has already invested in its modernization around $3 million out of $3.5 million it pledged when taking it over.
According to plant’s chief manager Mayis Khachatrian, the money was used to purchase new equipment and modernize its facilities.
Privatization of Agarak plant was followed by a 20 percent rise of workers’ wages, which makes now about $150 a month. The plant’s management has also donated 21 million drams to Agarak and 6 million to the nearby Meghri to help their municipalities to solve part of their most pressing problems.
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