In Lori marz, the President of Armenia visited Teghut’s mine, toured the territory of that copper molybdenum combine, familiarized with the economy of Teghut’s mining complex. Afterwards, he visited the concentration mill, familiarized with the investments and the industrial potential of the mill. Then, the president held a meeting with local residents working at the company. At the administrative complex of the company Teghut founded by Vallex Group Serzh Sargsyan attended the presentation of the construction and the copper molybdenum mine exploitation project of Teghut’s concentration combine. The leaders and councilors of Shnogh and Teghut communities also participated in the presentation.

The executives assured that in the context of the exploitation of Teghut’s copper molybdenum mine it was more important from the ecological perspective to compensate the damage to be done to the forest reserve. As a consequence, the company has worked on an afforestation project. The latter will be implemented in an area of 714 hectares which is twice as large as the surface of the forest to be cut as a result of Teghut’s copper molybdenum mine. The company assumed the responsibility not only for carrying out tree planting, but also taking care of the planted trees until it will be possible to include those areas in the forest category. Specialized organizations carrying out afforestation should be chosen in a contest.

At the project presentation it was mentioned that works of tree planting and taking care of the planted trees had been implemented in the administrative borders of Lori’s Teghut, Shnogh, Lernahovit, Odzun, Arjut communities, as well as in the total territory of 378.5 hectares belonging to Gugark and Lalvar forest reserves of Hayantar CJSC.

It was also reported that there were ancient traces of a culture and a civilization and of monuments in the area of Teghut’s copper molybdenum mine. For the purpose of preserving their complete historic and cultural contents and transferring them to the next generation, an action plan on ensuring the protection and safety of the historical and cultural monuments located in the exploitation areas of Teghut’s mine has been worked on, coordinated with the RA Ministry of Culture and is being implemented. The company has financed archaeological explorations, excavations and some other scheduled works implemented by the RA NAS Institute of Archaeology and Ethnography and other specialized organizations.

The social policy of Teghut was also introduced. It was underscored that with the aim of properly addressing and coordinating social support and other charitable projects carried out in Lori marz, as well as of ensuring active social engagement, on the initiative of Vallex Group Manes charitable fund was established. The latter coordinates the company’s social policy. The major part of the company’s social projects is implemented by that fund. In general, throughout 2008-2013 the company and Manes charitable fund allocated about 116.7 million drams to assist with the development of Teghut and Shnogh communities. Since the day it was founded the fund has accomplished social projects accounting for more than a billion RA drams.

The executives assured that the project of constructing Teghut’s concentration combine and exploiting the copper molybdenum mine was of great importance for the communities’ economic life. Particularly, it was noted that as the only industrial enterprise operating in the communities and the largest employer the company employed about 1.200 people, including around 150 employees from Teghut, 230 employees from Shnogh, 430 employees from Alaverdi. As of March 2014 the average salary of the company’s employees comprised 295 thousand RA drams.

On his working visit to Tavush marz, President Serzh Sargsyan took part in the seminar on the topic “the Prospects of Economic Growth in the Long Run” organized by the Central Bank at its Dilijan Training and Research Center.

Afterwards, the President of Armenia visited Dilijan Educational Center of the RA State Revenue Committee (SRC) where he was presented the Center’s construction work processes and projects pertaining to organizing educational activities. It was noted that the construction works of the Center being built on the base of the Rest House of USSR Cinematographers Union would finish at the beginning of 2015. According to the executives at present, the works pertaining to the Center’s interior, external networks, road construction and territory improvement are being implemented. Moreover, high-quality engineering systems and equipment are going to be installed at the educational center.

Regarding the projects pertaining to organizing educational activities it was mentioned that projects related to the improvement of SRC employees’ professional knowledge and working abilities, retraining, visitor rest area, organizing regional and international conferences and the exchange of professional knowledge would be implemented.