Moscow Brandy Company to Be Sold After Being Renamed

YEREVAN (Noyan Tapan)–The process of renaming the Moscow "Ararat" Brandy Company–which belongs to the Armenian government–will end of March and be sold afterward. Minister of Agriculture David Zadoyan said after the March 21 government meeting that to stop the process of the company’s dissolution for the purpose of selling it–the Ministry of Agriculture has received a loan of $1.3 million from a Russian bank and will use it for the settlement of the company’s debts. According to Zadoyan–the company’s balance debt is $1.3 million and according to the results of the recently conducted audit–the real debt of the company is $1.8 million.

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