Diamond Company Exports to Total Around $50 Million in ’99

YEREVAN (Noyan Tapan)–The "Diamond Company of Armenia" jewelry factory was sold to the British Furfono Company for $5.5 million. The Amio Exco international audit evaluated the sale as a success of the Armenian government and its best deal thus far. Armenia’s Minister of Privatization Pavel Ghaltaghchian–highly assessing the variant of separate sale of raw materials at the factory and the building (with equipment)–said "if we had applied our evaluation order–the price would have been very low."

The British company is planning to increase exports to $45-$50 million this year–that is–to double them from the previous years. International experts say similar plans will require an annual investment of about $17-$18 million. The British party pledged to decommission four and commission two subsidiary enterprises within the next three years. The Furfono Company will also see to all problems connected with the import and sale of raw materials. The enterprise will maintain its business ties with jewelers and the world monopolist De Beers Company.


Discussion Policy

Comments are welcomed and encouraged. Though you are fully responsible for the content you post, comments that include profanity, personal attacks or other inappropriate material will not be permitted. Asbarez reserves the right to block users who violate any of our posting standards and policies.