Import of equipment within framework of Amulsar project was exempted from customs duties

ArmInfo. The government of Armenia  released Lydian Armenia CJSC, which operates the Amulsar deposit,  from paying customs duties on imports of another batch of equipment  and raw materials.

The corresponding draft decision was approved at a meeting of the  Cabinet of Ministers on June 23.

Minister of Economic Development and Investments Suren Karayan stated  that "Lidian Armenia" (formerly Geotim CJSC) has already invested  about 44 billion AMD (about $ 90 million red), while about 180  billion AMD will be invested in the process of the project, the cost  of imported equipment will make about 2.5bln AMD.

To recall, Lydian Armenia is a subsidiary of the British Lydian  International, whose shareholders are large international  institutional investors from the United States, Great Britain, a  number of European countries, including IFC and EBRD. The Amulsar  project is the largest industrial project in Armenia today to develop  the Amulsar gold deposit with a total value of $ 370 million.