12:32,
YEREVAN, JUNE 18, ARMENPRESS. The Armenian government approved the application submitted by Armpower company aimed at using the privilege on the exemption of customs duties for the imported equipment, raw materials within the frames of the ongoing investment program.
The goods imported by the company will be used for producing electricity in Yerevan (construction of a power station with the capacity of 250 MW).
In September 2019 the company received a privilege to extend VAT amounts for a three-year term at the decision of the government.
Nearly 69 billion AMD had already been invested for the project. It is expected to invest also 61 billion drams for purchasing the necessary equipment presented in the list and for conducting the construction works of the power station. It’s expected to create 106 jobs with 545,000 AMD average salary on the sidelines of the investment program.
The power station will have a capacity of nearly 250 MW. The produced electricity will be completely supplied to the Electric Networks of Armenia CJSC.
Editing and Translating by Aneta Harutyunyan