Provincial governor’s company to build cascade of small hydropower plants in southern Armenia
YEREVAN, June 23. /ARKA/. Khachatryan Brothers LLC was awarded today by the government of Armenia a three-year VAT payment deferment for import of equipment and raw material after promising to invest 1.9 billion drams in the construction of a cascade of small hydropower plants in the southern province of Syunik, economy mister Artsvik Minasyan said at a Cabinet session today.
The company, owned, according to news reports, by the provincial governor Surik Khachatryan and his brother, is exempted also from the payment of customs duties.
According to the minister, the company is to build a cascade of small hydropower plants in the community of Tsguk with the total capacity of 4 MW.
"The investment program of the company aims at construction of small hydropower plants, the development of which is one of the priorities of the government,' Minasyan said.
He noted that out of the total 1.9 billion drams investment nearly 489 million drams will be spent on the purchase of Chinese equipment.
According to the minister, the project will create 14 new jobs with an average salary of 120,000 drams in 2016, 130,000 drams in 2017 and 140,000 drams in 2018. ($ 1 - 476.32 drams). --0-
The company, owned, according to news reports, by the provincial governor Surik Khachatryan and his brother, is exempted also from the payment of customs duties.
According to the minister, the company is to build a cascade of small hydropower plants in the community of Tsguk with the total capacity of 4 MW.
"The investment program of the company aims at construction of small hydropower plants, the development of which is one of the priorities of the government,' Minasyan said.
He noted that out of the total 1.9 billion drams investment nearly 489 million drams will be spent on the purchase of Chinese equipment.
According to the minister, the project will create 14 new jobs with an average salary of 120,000 drams in 2016, 130,000 drams in 2017 and 140,000 drams in 2018. ($ 1 - 476.32 drams). --0-