The manufacturer of plastic pipes for drip irrigation invests in the expansion of production of 3 billion AMD

ArmInfo. The company "Newplast", which is engaged in the production of plastic pipes, will invest 3 billion drams in the production expansion. On October 5, the Armenian government released the company from payment of import customs duties.

According to the Deputy Minister of Economic Development and Investments Garegin Melkonyan, the company has been operating in Armenia for over 10 years. As part of the investment program, it is planned to expand production, which, in general, will be invested 3 billion AMD, 1.1 billion of which will go to purchase new equipment. The investment program provides for the creation of 25 new jobs with an average monthly salary of 200 thousand AMD. The volume of production will make about 2bln AMD, the products will be sold on the territory of Armenia. The program, as indicated by the deputy minister, is aimed at the establishment of a drip irrigation system. "The program, from the point of view of agricultural development, is very important and, in fact, local agricultural producers will act as its addressees," Melkonyan explained.

Earlier it was reported that for the transition to drip irrigation developed a program of state intervention, according to which land users will be granted agricultural loans at 2% per annum for a period of 3 years. It is reported that the system will increase the efficiency of the use of the country's water resources, and will also reduce water consumption by up to 40%, while also increasing the yield, the quality of the fruit and the sown areas.