HERE AND BEYOND
Ameriabank Finances Implementation of Remarkable Project in South Caucasus
Media Room

Back in 2012 Ameriabank initiated financing of a special project in the Trans-Caucasus region by means of trade finance facilities. A modern steel-making plant ASCE GROUP equipped with high-tech facilities was launched in Charentsavan, Armenia. Еquipment of the plant was imported and installed by the world-renowned Siemens company. Total value of the project makes AMD 7.8 billion of which AMD 6.5 billion was provided by Ameriabank by means of trade finance tools. 

Due to efficient cooperation with World Bank Group member IFC, Ameriabank provided financing for construction of a vital plant for Armenian economy within the scope of trade finance projects implemented by IFC.
Gagik Sahakyan, Corporate Banking Director of Ameriabank, said. “Construction of ASCE GROUP plant in line with international standards is very important for Armenia. Ameriabank highly values the cooperation with IFC due to which this primary plant construction project was completed in the region. High-end production of the plant will contribute to satisfaction of the local and regional market demand for metal accessories and fittings. This powerful plant will foster development of the Armenian economy, increase industrial volume in GDP structure, create new jobs and improve the competitiveness of national production”.

Updated 24.10.2013, 15:12
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