Armentel Privatization Deal Underway

YEREVAN (Golos Armenii)–According to a report from the office of the Prime Minister–envelopes of the bid proposals for the privatization of Armentel were opened Friday. Negotiations with the companies are said to begin in the near future. The results of competition will be revealed in a month–according to governmental sources. Preference will be given to the companies offering the highest bid. The report doesn’t provide any information about the companies which participated in the competition–their number or the proposed bids. According to the same sources–privatization of the Arax plant was unsuccessful–since the proposals did not meet the deman’s of the government–such as to provide certain level of investmen’s and to preserve the number of jobs.

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