March 29 2004
Comsup to invest $3.5 mln in Armenian mining outfit
Moscow. (Interfax) – The U.S. company Comsup Commodities will in the
first year of its privatization be investing $3.5 million in Agarak
GOK (mining and benefication combine), Armenian Trade and Economic
Development Minister Karen Chshmarityan announced at a Friday press
conference in Yervan.
The GOK privatization agreement should be signed soon.
Chshmarityan noted that the investment will go to addressing pressing
problems at the combine. In the year following the moment of
privatization, the U.S. company should be providing the Armenian
government with an investment program for the enterprise’s
Comsup Commodities is obligated to keep the enterprise’s jobs intact
and pay back wages. It had offered $500,000 for the GOK.