Wed, 16 July
25.1 C
Yerevan
USD: 383.74 RUB: 4.93 EUR: 450.05 GEL: 141.25 GBP: 521.81

“Mika Cement” plant resumes operating due to funding from VTB BANK (Armenia)

YEREVAN, July 18./ARKA/. “Mika Cement” plant resumes functioning as it receives lending from VTB Bank (Armenia).

“The bank allocated funding so as the company could fulfill its loan commitments, including natural gas and salary debt redemption, etc. Also, funding aims at improving equipment and covering some other expenses required for “Mika Cement” operation,” the bank’s press office reported Thursday
VTB Bank (Armenia) General Director Yuri Gusev said the bank had been cooperating with “Mika Cement” for many years, and “we are happy our bank is supporting one of the industrial giants of Armenia.”

“Our goal is to reproduce cement, assist the plant in boosting and improving the quality and volumes of cement. We hope our partnership will go on developing furthermore,” he said
“Mika Cement” plant produces nearly 10 brands of Portland cement. The plant exports its production to Iran, Iraq, Europe and the Russian Federation.

VTB Bank (Armenia) joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of Bank VTB (Armenia). Bank VTB (Armenia) has 67 branches all over Armenia’s territory. Bank VTB (Armenia) is traditionally reckoned among leaders for general indicators. -0-

spot_img

POPULAR

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

Euro falls by 1.14 drams against Armenian dram, as US dollar rises slightly

The average market exchange rate of the US dollar against the Armenian dram as of July 11, 2025, increased by 0.17 points compared to July 10 and amounted to 383.91 drams.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Armenian Market: Acceleration of Economic Activity is Positive for the Market

In the period from June 16 to June 30, 2025, the Armenian stock market demonstrated mixed dynamics.

Armenia approves grant agreement with ADB for $6 million seismic safety improvement program

The Armenian government approved a $6 million grant agreement between the Republic of Armenia and the Asian Development Bank (ADB) on a seismic safety improvement program at a meeting on Thursday.

LATEST NEWS

spot_imgspot_imgspot_img