Thursday, June 16 2016 17:57
Naira Badalian

2.5 bln AMD to be invested in production of steel fittings and grinding balls

2.5 bln AMD to be invested in production of steel fittings and grinding balls

ArmInfo. The Armenian Government has exempted ASKE Group from VAT on import of goods and equipment for 3 years. The relevant decision was taken during the Government's sitting on June 16.    

 
Armenian Minister of Economy Artsvik Minasyan said that in accordance with the investment package of the company, the investments will total 2.5 bln AMD, including 2 bln AMD for acquisition of equipment. It is envisaged to launch production of steel fittings and steel grinding balls. 
 
A total of 32 new jobs will be created and the average salary will be nearly 180 thsd AMD in 2016, 200 thsd AMD in 2017, and 220 thsd AMD in 2018.
POST A COMMENT
Input digits     


News
Armenia-Italy Textile Alliance Forum started in MilanArmenia-Italy Textile Alliance Forum started in Milan
Dmitry Volvach: Trading volumes of the ruble-dram currency pair  increased more than 1000-fold on the Moscow ExchangeDmitry Volvach: Trading volumes of the ruble-dram currency pair  increased more than 1000-fold on the Moscow Exchange
Armenia`s minister of economy hosts WB Country Manager for ArmeniaArmenia`s minister of economy hosts WB Country Manager for Armenia
EBRD launches climate governance platform for business leaders in  Ukraine, Georgia and ArmeniaEBRD launches climate governance platform for business leaders in  Ukraine, Georgia and Armenia
Another step in promoting the Armenian-Russian decentralized  cooperation: Pashinyan`s address to participants of Armenian-Russian Interregional Forum Another step in promoting the Armenian-Russian decentralized  cooperation: Pashinyan`s address to participants of Armenian-Russian Interregional Forum 
Iran Khodro Company starts supplying cars to ArmeniaIran Khodro Company starts supplying cars to Armenia
Armenia, China are considering  possibility of organizing direct  flights between  countriesArmenia, China are considering  possibility of organizing direct  flights between  countries
Expert: With the stabilization of the military-political situation,  the exchange rate in Armenia will also stabilizeExpert: With the stabilization of the military-political situation,  the exchange rate in Armenia will also stabilize
Gradual softening of the global inflationary environment will weaken  the inflationary impact from the external sector on the Armenian  economyGradual softening of the global inflationary environment will weaken  the inflationary impact from the external sector on the Armenian  economy
CBA significantly improves its forecast for GDP growth for 2022 to  12.9%, but expects inflation at 10.3%CBA significantly improves its forecast for GDP growth for 2022 to  12.9%, but expects inflation at 10.3%
Central Bank of Armenia raised refinancing rate from 9.5% to 10%Central Bank of Armenia raised refinancing rate from 9.5% to 10%
TOTAL opens training center in Etchmiadzin for training specialistsTOTAL opens training center in Etchmiadzin for training specialists
WB stands ready to continue to assist Armenian government in  implementation of priority programsWB stands ready to continue to assist Armenian government in  implementation of priority programs
Armenia`s producers to get 1% tax reduction for recalling spoiled  productsArmenia`s producers to get 1% tax reduction for recalling spoiled  products
FLY ONE Armenia transported over 200.000 passengers in its first year  in marketFLY ONE Armenia transported over 200.000 passengers in its first year  in market
Armenia`s minister of economy visits ski resort construction project  in Aragatsotn Armenia`s minister of economy visits ski resort construction project  in Aragatsotn 
Pashinyan instructs to find new investors for mines that are  currently not being developedPashinyan instructs to find new investors for mines that are  currently not being developed
AMD 4.676.836 to the “Rehabilitation City of Heroes” psychological center: the next beneficiary of “The Power of One Dram” is the 4090 FoundationAMD 4.676.836 to the “Rehabilitation City of Heroes” psychological center: the next beneficiary of “The Power of One Dram” is the 4090 Foundation
ACBA Bank fourth bank to join government-sponsored 10% cashback  programme for pensioners and reliefersACBA Bank fourth bank to join government-sponsored 10% cashback  programme for pensioners and reliefers
Presentation of Jobbit instrument held in Yerevan Presentation of Jobbit instrument held in Yerevan 
New power unit under construction at Kursk NPP could be serve as  standard for Armenia - ministerNew power unit under construction at Kursk NPP could be serve as  standard for Armenia - minister
Diaspora factor in Armenia`s investment portfolio is decliningDiaspora factor in Armenia`s investment portfolio is declining
Foreign investors present existing problems to Deputy Prime Minister  of ArmeniaForeign investors present existing problems to Deputy Prime Minister  of Armenia
Araratbank to put up for sale another tranche of dollar bonds worth  $3 million on September 8Araratbank to put up for sale another tranche of dollar bonds worth  $3 million on September 8
Ameriabank starts initial placement of another tranche of USD bonds  in amount of $10 millionAmeriabank starts initial placement of another tranche of USD bonds  in amount of $10 million
Pashinyan hopes that Moscow will regard relocation of Russians as  movement within EAEU: Putin sees nothing wrong with thisPashinyan hopes that Moscow will regard relocation of Russians as  movement within EAEU: Putin sees nothing wrong with this
Armenia`s premier on secondary western sanctions over intensified  contacts with Russia Armenia`s premier on secondary western sanctions over intensified  contacts with Russia 
Armenia is very concerned with unblocking transport links with  Azerbaijan Armenia is very concerned with unblocking transport links with  Azerbaijan 
Nikol Pashinyan links economic growth in Armenia with EAEU  regulationsNikol Pashinyan links economic growth in Armenia with EAEU  regulations
IDBank issues the first premium class business cards in ArmeniaIDBank issues the first premium class business cards in Armenia
Kerobyan: More than 50,000 Russian IT specialists arrived in ArmeniaKerobyan: More than 50,000 Russian IT specialists arrived in Armenia
Converse Bank has come up with a unique offer to encourage online shoppingConverse Bank has come up with a unique offer to encourage online shopping
IDBank is the first in Armenia to present Visa Platinum Business cardIDBank is the first in Armenia to present Visa Platinum Business card
AraratBank issues and underwrites USD 3,000,000 bondsAraratBank issues and underwrites USD 3,000,000 bonds
Fitch Affirms Armenia`s Sovereign Rating at B+, Upgrades GDP Growth  Outlook to 6.4%Fitch Affirms Armenia`s Sovereign Rating at B+, Upgrades GDP Growth  Outlook to 6.4%
Armenian SRC Deputy Head, Iranian Consul General in Kapan discuss  methods of facilitating customs procedures Armenian SRC Deputy Head, Iranian Consul General in Kapan discuss  methods of facilitating customs procedures 
Armenia to host production of Iranian carsArmenia to host production of Iranian cars
WB to issue a $26.5mln loan to ArmeniaWB to issue a $26.5mln loan to Armenia
Ardshinbank named Retail Bank of the Year by the international magazine Asian Banking & FinanceArdshinbank named Retail Bank of the Year by the international magazine Asian Banking & Finance
Armenia has significantly increased polished diamond exports and  rough diamond importsArmenia has significantly increased polished diamond exports and  rough diamond imports
Armenia significantly increased gold exports in H1 2022Armenia significantly increased gold exports in H1 2022
Armenian-Iranian business forum was held in YerevanArmenian-Iranian business forum was held in Yerevan
Converse Bank offers SME financing without financial analysisConverse Bank offers SME financing without financial analysis
Minister: As a result of relocation, 300 large companies with Russian  capital were registered in ArmeniaMinister: As a result of relocation, 300 large companies with Russian  capital were registered in Armenia
Ardshinbank supports development of Armenian jazz musicArdshinbank supports development of Armenian jazz music
Ameriabank expands branch network in YerevanAmeriabank expands branch network in Yerevan
Winner of Buissup Global Forum 2021 to represent Armenia at  Entrepreneurship World Cup 2022Winner of Buissup Global Forum 2021 to represent Armenia at  Entrepreneurship World Cup 2022
CPC reveals violations in production and sale of bottled  non-carbonated waterCPC reveals violations in production and sale of bottled  non-carbonated water
Orion, BAJ Accelerator launching one more startup growth acceleration  programOrion, BAJ Accelerator launching one more startup growth acceleration  program
Deutsche Telekom AG to launch activities in Armenia Deutsche Telekom AG to launch activities in Armenia 
Armenian, Russian entrepreneurs hold 250 meetings within RF  Diversified Business Mission to ArmeniaArmenian, Russian entrepreneurs hold 250 meetings within RF  Diversified Business Mission to Armenia
Economist concerned over children living in poverty in Armenia Economist concerned over children living in poverty in Armenia 
Neruzh professional repatriation program to be launched in Dilijan in  late SeptemberNeruzh professional repatriation program to be launched in Dilijan in  late September
TVEL JSC, Armenian NPP sign contract for supply of fresh nuclear fuelTVEL JSC, Armenian NPP sign contract for supply of fresh nuclear fuel
Armenia`s share in air tickets booked by Russians for autumn holidays  15%Armenia`s share in air tickets booked by Russians for autumn holidays  15%
Armenia`s banking system completed H1 2022 with  net profit of AMD  111 billion Armenia`s banking system completed H1 2022 with  net profit of AMD  111 billion 
UBA: After 2020-2021, the Armenian banking system has not yet managed  to restore lending growthUBA: After 2020-2021, the Armenian banking system has not yet managed  to restore lending growth
ADB will support Yerevan in implementation of large-scale projects  that are important not only for capitalADB will support Yerevan in implementation of large-scale projects  that are important not only for capital
EDB: Armenia`s economy growth in 2022 will be quite high and will  exceed expectationsEDB: Armenia`s economy growth in 2022 will be quite high and will  exceed expectations
Economist: Essential goods in Armenia have risen in price by 20% and  moreEconomist: Essential goods in Armenia have risen in price by 20% and  more
Read more


Exchange rates
23.09.2022
RUB7.250.23
USD416.27-1.77
EUR406.03-6.53
GBP459.31-12.49
CAD307.32-2.94
JPY29.09-0.23
CNY59.54-0.35
CHF423.56-2.58


Experts
Will exporters wait for help from state, or will Armenian economy be  fried in monetary frying pan?Will exporters wait for help from state, or will Armenian economy be  fried in monetary frying pan?
David Ananyan: Armenian economy needs urgent structural changes to  increase its potentialDavid Ananyan: Armenian economy needs urgent structural changes to  increase its potential
Without new technologies, the tourism industry may declineWithout new technologies, the tourism industry may decline
Read more

Commented
How long will the drama with rising dram last? - Haykaz FanyanHow long will the drama with rising dram last? - Haykaz Fanyan
Inflation in Armenia is a social catastrophe: EconomistInflation in Armenia is a social catastrophe: Economist
All talks about unblocking regional transport links worth nothing  without Julfa railway junction - Ara MarjanyanAll talks about unblocking regional transport links worth nothing  without Julfa railway junction - Ara Marjanyan
Discount system in cashless transactions for pensioners to be  introduced in Armenia Discount system in cashless transactions for pensioners to be  introduced in Armenia 

Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2