YEREVAN. – Armenia can successfully compete with the U.S. on perlite production, said co-owner of the Karakert stone moulding plant.

Suren Gevorgyan said the Aragats perlite deposit is one of the largest in the world, and several enterprises could work on the raw material of the deposit.

“The confirmed reserves total 150 million cubic meters, while the forecasted reserves of high purity reach 3 billion,” he told reporters.

During the Soviet times, perlite from Armenia was used as raw material by a number of plants.

“Nowadays we can not export not only perlite itself, but the final production,” Grigoryan emphasized.

The co-owner of the plant recalled that in 1998, during the presidency of Robert Kocharyan, Aragats perlite min was sold for a ridiculous $1.5 million to an American company Corning. The Americans did not exploit the deposit and thus solved the problem of competition. Nowadays Americans, along with Greece and Turkey, are expoting their perlite to many states.

The insulating materials and other goods produced from perlite cost around $800 per cubic meter. Armenia is able to produce the goods for $250.

“We can produce around million cubic meters a year. Imagine what profit it would bring to our country. But state officials are unwilling to support the economy. The desire to act arises only when there is benefit,” Gevorgyan resumed.