Yerevan/Mediamax/. Armenian government will provide “Elektrasark” OJSC (“Electric Device”) an additional credit at the volume of AMD 50mln.

Mediamax reports that Armenian Minister of Economy Tigran Davtyan said this following the results of a visit to the company. The credit will be directed at modernization of production and replenishment of current assets. Armenian government provided the company the first credit at the volume of AMD 150mln in 2009.

Tigran Davtyan stated that “Elektrasark” is a famous brand on the territory of CIS and exports production to Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan.

Executive Director of “Elektrasark” Karen Sargsian informed that the company intends to expand production and enter the Iranian market. “It is expected that we will make the first shipment of production at the sum of USD 50 thousand to Iran in late April”, he said.

“Elektrasark” enterprise was established in 1957. In 2010, the volume of the company’s production made AMD 360mln, and the volume of sales – about 386mln. The company’s staff makes about 145 people.