Yerevan, July 31. /ARKA/. The Minister of Economy of Armenia, Gevorg Papoyan, has appointed David Gevorgyan as the manager of Araratcement OJSC.
He will assume office on July 31, 2026, Papoyan announced on his Facebook page.
According to the minister's order, the basis for the appointment was the decision of the Anti-Corruption Court of Armenia dated July 15, 2026, made in the framework of the consideration of the application for the application of protective measures in the lawsuit.
Previously, the Anti-Corruption Court satisfied the petition of the Prosecutor General's Office, according to which, within the framework of the confiscation of property of allegedly illegal origin, the management and preservation of the shares of Araratcement OJSC were transferred to the Republic of Armenia.
Araratcement OJSC is one of the largest cement producers in Armenia, associated with the business structures of the owner of the Multi Group holding, the leader of the Prosperous Armenia party, Gagik Tsarukyan. He has been under arrest since July 7; he is accused of large-scale fraud and money laundering; large-scale tax evasion; and illegal hunting. The defense denies the charges, and Tsarukyan's guilt in these episodes has not been established by the court.
The operation of Araratcement was suspended on July 6 following investigative actions in the criminal case against Gagik Tsarukyan. After a four-day downtime, the company received permission to resume production on July 9, and returned to full operation on July 10.
