ARMENIA SIGNS A COOPERATION AGREEMENT WITH RUSSIA ALROSA
The press secretary said “work will be done on details of the agreement” since the Russian party has “serious plans” to enlarge cooperation.
The Russian delegation, spearheaded by Sergey Vibornov, arrived in Yerevan today. ALROSA President will meet with the Armenian president and the prime minister today. He will also hold meeting with local entrepreneurs.
As a follow-up, an Armenian-Russian joint venture on Russian diamond processing is expected in Armenia. Sources say soon ALROSA and DCA will sign an agreement to process Russian diamond in Armenia, which will be sold in the Russian market.
ALROSA processes 97 percent of Russian diamond and owns 25 percent of total share of world diamond processing. The company revenues approximate $3 billion per annum. ALROSA shareholders are Rosimushestvo (37 percent of shares), Yakutia State Ownership Management Ministry (32 percent of shares), eight regions of Yakutia (8 percent of shares) and 23 percent of shares are owned by different physical and legal entities.
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