Araratcement CJSC has rejected media reports claiming that the price of its cement has increased, saying the figures cited in those reports do not reflect the producer’s actual selling price.
According to the reports in question, the price of Araratcement-produced cement had climbed from 2,700 drams to 3,500 drams. The company said, however, that the selling price of one ton of bagged cement is 51,000 drams, including VAT, calculated for 20 bags. That means the producer-set price per bag is 2,550 drams.
In its statement, the company said claims that the producer is selling cement for 3,500 drams are clearly false. Araratcement added that final prices charged by individual sellers in the market are outside the producer’s direct control and should not be presented as prices set by the manufacturer.
The company also said that reporting on the cement market should clearly distinguish between the producer’s selling price and prices set by resellers in order to avoid misleading the public.
Earlier, Economy Minister Gevorg Papoyan said a shortage in the cement market was caused by disruptions to supplies from neighboring countries.
At the same time, Araratcement CJSC is involved in proceedings on the confiscation of assets of alleged illicit origin. Following a motion by the Prosecutor General’s Office, the Anti-Corruption Court ordered that Araratcement CJSC, owned by Gagik Tsarukyan, be transferred to the management and custody of the Republic of Armenia. The lawsuit seeks, among other assets alleged to be of illicit origin, the confiscation of Araratcement CJSC shares in favor of the Republic of Armenia.
