Pashinyan moves to nationalize opposition-linked cement giant
Akbar Novruz
Read moreArmenian Prime Minister Nikol Pashinyan has announced that the Ararat Cement plant will soon be brought under state ownership, AzerNEWS reports.
Speaking on Thursday, Pashinyan said the company, owned by businessman and opposition figure Gagik Tsarukyan, would be transferred to state control, with a new manager to be appointed in accordance with established procedures.
"Ararat Cement will very soon become state-owned, and a manager will be appointed according to the established procedure," Pashinyan said, without specifying a timeline for the nationalization process.
The announcement marks the latest development involving Tsarukyan, who was arrested on July 6 on money laundering charges.
The Armenian authorities have not yet disclosed further details on the legal mechanism or timeframe for transferring ownership of the cement plant to the state.
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