Hraparak: Russian VTB takes Teghut mine for covering mine’s credit

14/09/2018 10:17

Hraparak: Russian VTB takes Teghut mine for covering mine’s credit

Hraparak paper writes: “According to our information representatives of the Russian VTB Bank have arrived in Armenia. The thing is that the director general of Teghut mine Valery Mejlumyan has taken huge credits from the bank loaning the mine. Recently though the company faces financial difficulties and fails to implement its credit commitments as a result overdue credits amounting to $380 million have gathered.”

The paper says the bank has already started the procedure of taking the mine for the credit. The bank will sell it to a new customer after healing works. Mejlumyan visited Teghut with Bank’s representative to get convinced that it will set a high price for the mine that will cover the whole credit portfolio.

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