Factory to be sold

10/07/2007

According to our information, “Vedanta Resourses” company is selling Ararat Gold Mining Factory (AGMF). “It is two months that “Vedanta Resourses” company has wanted to sell the factory,” AGMF director Vardan Vardanyan told us. “We have announced a competition for that purpose. It is not yet clear who the winner is.” According to our information, however, all the phases of the competition have been finished and they already know who the winner is. Besides that, several Indian administrative officials of the company left for London yesterday. “Vedanta Resourses” is registered at one of the stock markets of London, thus it is not ruled out that they have left for London to participate in the transaction of the deal. The company did not inform us of the list of the participants in the competition, and also did not inform whether there were Russian companies among them or not. We asked the spokesman of the company, who told us that “it was a business secret”.