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22 May 2004 - 14:43 AMT

US COMPANY BOUGHT AN ENTERPRISE AT ARMENIAN-IRANIAN BORDER

Comsup Commodities Inc. US company has become the holder of 100% of the shares of Agarak Copper-Molybdenum Complex at $600 thousand. As reported by Regnum Russian news agency, in compliance with the contract, the company bound itself to invest $3.5 million to technological modernization of the enterprise and to increase the ore production volume within 2 years. By the end of this year the enterprise plans to come to using 100% of its capacities, which means producing 2.5 million tons of ore instead of the 2.3 million last year.