major sectors of the economy : jewelry and diamond processing : manufacturing : information technology : natural resources : chemicals and pharmaceuticals : agriculture : food processing : tourism : construction and construction materials : energy : transport : telecommunications : water

Construction and Construction Materials

There are five large construction companies that have survived since before independence. There are also a number of small enterprises. The government provides funds for new houses in the earthquake zone and for some housing projects in Yerevan It is also funding some road construction, but offers few opportunities for foreign firms. The newly privatized hotels are being refurbished by companies from the UK and Italy, and further hotel privatizations may provide contracts to foreign suppliers.
Araratcement is the country's largest cement producer. In 1998-99 it produced about 250,000 tones of cement per year, but has an annual production capacity of 1.2 million tones. The plant plans to implement a program to launch production of reinforced concrete goods to be used for international transport projects. Total investment needed is estimated at EUR 3.5-4 million. Initial discussions have been held with the EBRD, which has expressed an interest in investing. Araratcement also hopes to attract Fleiderier (Germany) as the leading foreign partner for the project.