ArmInfo.The Balabekyan AGRO company intends to smash intensive gardens on an area of 8 hectares in the village of Arzakan, Kotayk district of Armenia. The government of the republic at a meeting on January 24 approved a new investment program of the company, freeing it for three years from paying VAT on imported equipment.
As the Minister of Economic Development and Investments of the Republic of Armenia Tigran Khachatryan noted, the project is planned to be implemented within three years in several stages. The imported equipment will mainly be of Italian and Czech production.
According to the results of the program implementation, 15 jobs will be created with an average salary of 90 thousand drams. According to the new program at this stage, the volume of investments will make over 33 million drams with their subsequent increase to 120 million drams. The company has already invested about 200 million drams in the project, but jobs have not yet been created due to a number of problems encountered.
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