Regional

Government of Armenia pins hopes with new owner of Akhtala mining company

  • Thursday, August 7, 01:27

Government of Armenia pins hopes with a new owner of the Ahktala mining and enrichment combine, Prime Minister Hovik Abrahamyan told reporters when visiting the company earlier today, on 6 August.

The prime minister said 700 new jobs have been created at the combine as the company's administration has changed. Another 200 jobs are expected to open shortly. 

According to ArmInfo's data, the new owner of the combine is Maksim Hakobyan, former director general of the Zangezour copper and molybdenum combine (ZCMC), President of the ZCMC Board. 

As for the development of the country's regions, the prime minister said the Government will submit a bill that looks to exempt small enterprises in as many as 30 near border communities from taxes. "Although it will be a heavy burden for the budget, we ought to undertake such responsibility," Abrahamyan said.  

Earlier, Akhtala mining company belonged to Metal Prince Ltd. registered on Nevis Island. The company launched activity in Armenia in 2000.  Metal Prince belongs to Serob Ter-Poghosyan, American-Armenian businessman, who was sentenced to 15 years in prison by Lori Regional Court for pedophilia.

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