Pashinyan: There is no oligarch in Armenia close to Nikol Pashinyan`s heart, and Narek Nalbandyan is no exception.

ArmInfo. There is no oligarch in Armenia close to the heart of RA Prime Minister Nikol Pashinyan. Nikol Pashinyan himself stated this at a briefing on September 3, commenting on the transfer of the Ararat Cement Plant to newly minted oligarch Narek Nalbandyan.

According to Pashinyan, the Ararat Cement Plant remains state-owned. Moreover, the prime minister noted that he has ordered law enforcement agencies to conduct a thorough investigation into Narek Nalbandyan's statements. And if it turns out that he is a confidant of a well-known figure, the reaction from the authorities will be very harsh, more harsh than what has been meted out to other oligarchs. "If he creates the impression of being close to my family, it makes me extremely nervous. "Why don't you journalists say anything about the millions allegedly given to me? Let him reveal all of this," the Prime Minister said, adding that his family is not involved in any business.

Earlier today, it was reported that the Hrazdan Cement Plant had a new owner. It was Narek Nalbandyan, who is planning a large-scale investment program. The plant has not been operating for many years, but after the acquisition, it is planned to launch it in a short time. As part of the program, the plant's equipment will be modernized, production potential will be restored, and new jobs will be created. "The resumption of the plant's operations will be of great importance for the development of Armenia's industry, contributing to the growth of local production and the country's economic activity," said a message posted on the page of Nalbandyan's Eighty Eight Hotel.

As a reminder, Amio Bank was scheduled to hold an auction today for the sale of the Hrazdan Cement Plant. The starting price was set at 11 billion 101 million drams. Narek Nalbandyan's company was most likely the winner.

It is worth noting that the Hrazdan Cement company (formerly Mika Cement) was created on the basis of the Hrazdan Cement Plant, which was launched in 1970 as a structural division of the Hrazdan Mining and Chemical Combine, which was transformed into the Hrazdan Cement Plant in 1977. The plant's products were used in almost all important construction projects in Armenia and were exported in large quantities to the republics of the Transcaucasus and Russia. In the 1990s, the plant was practically inactive. In 2001, it was privatized by Mikhail Baghdasarov, President of MIKA Armenia. That same year, the plant was renamed Mika-Cement CJSC. Later, the plant was transferred to VTB Bank (Armenia) to pay off its debts. The cement plant resumed operations in July 2014 thanks to a loan received from VTB Bank (Armenia). The plant specializes in the production of about 10 grades of Portland cement. The enterprise is located in the city of Hrazdan on an area of 540,000 square meters. The plant is equipped with two technological lines with a design capacity of 1.2 million tons of cement and 1 million tons of clinker per year.