YEREVAN, July 21. /ARKA/. The manager of 'Araratcement' will be appointed in July in accordance with the law, announced Armenia's Minister of Economy Gevorg Papoyan on his Facebook page.
He noted that 'Araratcement' was previously transferred to the management of the Republic of Armenia by the decision of the Anti-Corruption Court of Armenia, based on a petition from the Prosecutor General's Office.
The minister urged 'Araratcement' employees to perform their duties diligently and responsibly until the manager is appointed, to avoid grounds for dismissal or administrative or criminal liability under the law.
“All employees who are professionals in their field and perform their work diligently will continue to work,” Papoyan assured.
The 'Araratcement' plant is part of the Multi Group holding, led by Gagik Tsarukyan, the leader of the 'Prosperous Armenia' party.
In recent years, 'Araratcement' has repeatedly attracted the attention of authorities due to investigations and legal proceedings. In July 2026, the Anti-Corruption Court granted the Prosecutor General's petition to transfer the enterprise to state management.
Earlier, Tsarukyan's lawyer stated that the defense intends to appeal this court decision, considering it politically motivated.
Tsarukyan has been under two months of arrest since July 7 in connection with a criminal case of large-scale fraud and money laundering.
