NEVARUS INVESTMENTS IN ARMENIAN MINING SECTOR MAY REACH $300 MILLION

/ARKA/
November 7, 201
YEREVAN

YEREVAN, November 7. / ARKA /. NevaRus company’s investment in
Armenia’s mining sector may reach $300 million, the company’s owners
told president Serzh Sargsyan when he visited the northern province
of Lori over the weekend. They said also the number of jobs may rise
to 2,000.

NevaRus investments are implemented through its two companies – Sagamar
and World of Molybdenum, according to a statement by the presidential
press office, which quoted NevaRus owners as saying that the company
will continue its investment strategy in Armenia.

During the visit Serzh Sargsyan attended the opening ceremony of
Sagamar mining and processing plant in a Stepanavan quarter.

The construction of the plant was started in 2008. The company has
built 27,263 square meters of various premises, a 7.5 km long road
from downtown Stepanavan to the plant, t also an 8.8 km long water
line and a 3.5 km long high-voltage power line.

Sagamar already has 370 workers on its payroll and plans to raise
the number to 500.

In the near future, the company’s efforts will focus on developmen,
of two other projects in Dastakert and Lichkvaz-Tey.

From: Emil Lazarian | Ararat NewsPress