Mika Cement resumes production, Armenia


Updated Fri, 24 Oct 2014 13:36:15 GMT

Armenia-based producer Mika Cement, which has not functioned since April 2014, has resumed production having paid off its main debts.

Naira Martirosyan, director of the plant told Arminfo, that production restarted at the end of September. "We paid off the main debts on salary and electric power and at present we have been paying off the current debts," she said.

She further added that production is in flu swing, and output is expected to reach 100,000t by year-end.

While most of the output is destined for the local market, Martirosyan said that the company is looking to export to Georgia and Russia depending on the pricing environment. The company is also seeking to diversify its product range and enhance quality.

Following the global economic downturn, the Mika Cement plant was producing around 120,000-130,000t of cement. However, prior to the downturn it was achieving a production volume of around 375,000t, according to the news agency.