Mika Cement to resume operations, Armenia

Mika Cement to resume operations, Armenia
Published: 09 September 2013

Tagged Under: Mika Cement Armenia 

Armenia-based producer Mika Cement plans to resume operations, having been idle for a year.

The kiln will be launched on 10 September 2013, plant director Naira Martirosyan told Arminfo. The 1.2Mta cement plant, situated in the city of Hrazdan, has been shut down since September 2012. The plant has been able to resume operations following a loan it recieved from VTB Bank (Armenia) in July this year. The bank allocated funding so the cement producer could fulfill its loan commitments, including natural gas and salary debt redemption, etc. The funding is also aimed at improving equipment and covering other operational expenses, the bank offices said back in July of this year.

Armenia’s construction industry remains in recovery mode following the impact of the global economic crisis. Last year it saw a modest return to growth as it climbed to 0.34Mt from 0.32Mt  the previous year.