The company has received the largest single order in its history, an order from Armenia worth 65 million US dollars
Zeppelin Group has received the largest single order in the company’s history, from Armenia. The Group’s CIS strategic business unit will supply mining equipment worth 65 million US dollars to Lydian International and its subsidiary Lydian Armenia. The machines from manufacturing partner Caterpillar are needed for the Amulsar project, a gold mine around 170 km south of the Armenian capital, Yerevan. Amulsar is one of the largest investment projects in Armenia.
"This is the largest single order in our company’s history, and represents another milestone in the positioning of Zeppelin and Caterpillar on the Armenian market. The task now is to fulfill this exciting order, and equip our customer and its gold mine with the equipment needed for gold mining on this scale", said Michael Heidemann, Deputy Chairman of the Management Board of Zeppelin GmbH.
"Zeppelin gained a foothold in the market for Caterpillar construction equipment in Armenia in the course of its globalization program back in 2006. This step turned out to be a game changer, since the country is rich in mineral resources. Mining these resources means that Caterpillar construction equipment is in high demand, especially large machines and mining equipment for surface and underground mining", explained Michael Heidemann.
The signing of the contract is a key strategic success for Zeppelin Group in expanding its market position in Armenia: "We are delighted to be carrying out this major project in a challenging business environment, together with our customer Lydian International and our manufacturing partner Caterpillar. We successfully concluded the contract having first developed a financing concept which is tailored to meet the specific needs of our customers", said Christian Dummler, CFO and member of the Management Board of Zeppelin GmbH.
The Caterpillar machines supplied by Zeppelin to Lydian International and Lydian Armenia will be used on the 65 km² open pit of the gold mine. Extensive earthmoving will be needed
over the next six years to create the necessary infrastructure for gold extraction – this includes the development of a road network, the installation of a 6 km conveyor system, and the construction of administration buildings and workshops. Lydian International is investing around 370 million US dollars in the development and operation of the Amulsar gold mine. The company wants to mine gold there from Q2 2018.