ArmInfo. The Czech company "Grandera" intends to establish production of LED lighting systems in Armenia. The Minister of Economic Development and Investments of Armenia Suren Karayan and the Chairman of the Board of Grander CJSC Karel Kreiz signed an appropriate memorandum of cooperation on April 26.
The press service of the Armenian Ministry of Economy told ArmInfo that the memorandum envisages the formation of long-term, mutually beneficial and productive cooperation aimed at the modernization of street lighting systems in the cities and villages of the country. In this context, it is planned to build a modern plant for the production of LED lighting systems, with a starting production capacity of 18,000 units per year. Construction will last 15 months, at the initial stage of production will be created 170 jobs, in the future, the company hopes to bring this figure to 400.
"The launch of the new enterprise will allow us to establish a competitive Armenian production of LED systems, and further expansion of production will ensure the release of domestic products in the markets of Iran and the EEA countries," the ministry said. How much will be invested in the establishment of the enterprise is not reported.
According to the National Statistical Service of Armenia, the external trade turnover between Armenia and the Czech Republic in 2016 amounted $ 17.3 million with an annual decline by 20.3%. At the same time, exports amounted to $ 2.3 million, with an annual growth by 35.4%, imports - $ 15 million, with an annual decline by 25%. In recent months, the situation with the turnover has begun to recover, but the final figures yet are unknown. From Armenia to the Czech Republic, mainly molybdenum concentrate, ferromolybdenum, ceramic and wooden products, handmade carpets, rough diamonds, and furniture are exported. From the Czech Republic, Armenia imports confectionery, food, medicines and medical equipment, plastic products, paper and knitwear.