VTB bank selling Hrazdan cement plant

Print this page

Armenia: VTB Bank (Armenia), a 100% subsidiary of Russian VTB Bank, is negotiating the sale of its cement plant in Hrazdan, according to the bank's chief executive Yuri Gusev.

In 2014 the bank provided the plant with a loan that was instrumental in resuming its operation. The plant's products are sold in Iran, Iraq, Europe and the Russian Federation. According to Gusev, VTB Bank (Armenia) wants the plant to continue its operation because the town of Hrazdan is a single-enterprise town. "VTB Bank (Armenia) feels its social responsibility for the fate of its residents," said Gusev. He added that the bank would assist the new owner of the cement plant to attract an international investor.

Last modified on 18 March 2015

Register for the Global Cement Weekly email newsletter

Global Cement Weekly is Global Cement’s weekly email newsletter. Keep up to date with cement industry news, analysis, diary dates and news of people in the sector.

Register >

URL: https://www.globalcement.com/news/item/3420-vtb-bank-selling-hrazdan-cement-plant

© 2023 Pro Global Media Ltd. All rights reserved.