Hrazdan Cement Plant Faces Threat of Closure, Employees Have Not Received Salaries for 13 Months
A protest action took place on November 10 at the Hrazdan Cement Plant: 400 employees of the factory have not received their salaries for 13 months. They demanded clarification on the issue of their remuneration and the future operation of the plant.
The employees note that for years the products were exported, but today the factory has become an importer.
They added that the factory has already been declared bankrupt because they failed to pay 579 million drams for the cement produced.
According to the employees, they submitted applications to the Prime Minister, but the issue was transferred to the Ministries of Economy and Justice.
The factory employees emphasize that “Hrazdan Cement” is important not only for their jobs but also for the future of their children.
“We simply want the salaries to be paid, and to know what will happen to the plant,” declared another participant.
It should be recalled that the owners of “Hrazdan Cement” have changed repeatedly: in 2001, it was privatized by Mikhail Bagdasarov, the president of “MIKA Armenia” company, and renamed “Mika-Cement” CJSC. In 2016, it was transferred to VTB-Armenia Bank, and in 2017, it was acquired by the “Hrazdan Cement” Corporation. The bankruptcy process began in 2022. From January to May 2025, 248,191 tons of cement were imported into Armenia. During the specified period, 310 thousand tons of cement were produced in Armenia.