Pashinyan moves to nationalise cement plant owned by tycoon Tsarukyan

Armenian Prime Minister Nikol Pashinyan has announced that the Ararat cement plant, owned by Prosperous Armenia party leader Gagik Tsarukyan, who is also a candidate for the post of head of the Armenian government in the upcoming elections, will be nationalised.

According to him, the decision to transfer the enterprise to state ownership was made after alleged irregularities by its owners were uncovered, Caliber.Az reports via Armenian media.

“Very soon, the business backbone of the Prosperous Armenia leader — the Ararat cement plant of Gagik Tsarukyan — will become state property and will be transferred to the Republic of Armenia, as the machinations of this Guloyan-Tsarukyan mafia (Karapet Guloyan, Tsarukyan’s son-in-law — ed.) have been exposed. The Government of the Republic of Armenia has already received a letter from the Prosecutor General’s Office stating that this property is subject to nationalisation,” Pashinyan said.

The prime minister drew a parallel with the nationalisation of the Zangezur Copper and Molybdenum Combine in 2021, stressing that employees of the cement plant will now report to the government rather than the previous owners. “Congratulations to all employees of the plant on their liberation. From this moment on, you no longer need to follow the instructions of Tsarukyan or Guloyan; your employer is now the Republic of Armenia,” he stated.

Pashinyan said the nationalisation aims to restore justice and protect state interests, adding that employees can expect job security and stable working conditions.

Last year, the Armenian government took control of Electric Networks of Armenia, previously owned by Russian businessman Samvel Karapetyan, who is currently under house arrest and leads the opposition party Strong Armenia.

By Jeyhun Aghazada