Suspension of Lydian Armenia company’s investment project harms Armenia’s business reputation: Armen Stepanyan

The routes taking to Amulsar continue being illegally closed from July 28 till now, Armen Stepanyan, Lydian Armenia company's Vice President for Sustainability, told the reporters today.

He stressed that the company has suffered big losses due to closed routes and 1,300 people lost their jobs.

Asked about possibility to restore the losses judicially by demanding them from the government, Stepanyan said, “Everything is possible.”

He also noted that the closing of the routes to the mine is partially oriented and urged the corresponding bodies to study by who.

The company representative said it is necessary to calculate how much losses the company suffered during this period.

“We have not had any income till now. During these years we just invested. We have invested over 400 million USD and were planning to have the first income last year,” he said.

As to whether the suspension of Lydian Armenia company’s investment program will harm Armenia’s business reputation, Stepanyan said, “Definitely. If you visit our website and see the names of our financers you will get the answer to the question. These are financial institutions who are not only funding the mining sector but many others. Many of them are offended, and I believe that a serious harm has been caused to our reputation which needs to be restored as soon as possible. ”