Thursday, December 6 2018 13:14

ArmInfo.. The government of Armenia at its meeting on December 6 satisfied the application of the "Rad Sane Vashamir Group" company to extend the three-year delay on VAT payments.

As acting RA Minister of Economic Development and Investments Tigran  Khachatryan noted at the meeting, the extension of the delay is due  to the fact that the company intends to make additional investments  in the amount of 1.01 billion drams in organizing the production of  composite gas cylinders.  Currently, the total investment will be  about 2.4 billion drams, but jobs have not yet been created, as  equipment imports continue. As part of its program, which is planned  to be implemented in several stages, the company intends to make  investments in the amount of 11.1 billion drams. The company's  products will be mainly sold in the markets of the EAEU.

Earlier, ArmInfo informed that "Rad Sane Vashamir Group" LLC  represents the international industrial company "Rad Sane Vashamir"  engaged in the production of composite cylinders, which carries out  its activities in Turkey, Thailand and the Russian Federation. "Rad  Sane Vashamir Group" LLC intends to implement the investment program  in Lori region. The total investment is about $130 million, the  number of employees (considering with infrastructures) will be up to  2000 people. The investments are envisaged in 3 directions: the  production of composite cylinders, the foundation of factories  engaged in the production of carbon microfibers and the construction  of an agro-complex. Work on the construction of a plant for the  production of composite cylinders was scheduled to begin in October  2017 and complete in April 2018, the volume of investments is $ 20  million, the number of employees is 100 people. Works on the  construction of a carbon production plant were to be started in  October 2017 and complete in November 2018, the volume of investments  is $ 80 million, the number of employees is 300 people. And the  enterprises founded within the framework of the agricultural complex  will be engaged in the production of dairy products (milk powder,  cheese, butter), livestock (meat production), fruit processing  (production of fruit powder), and will have its own slaughterhouse.   The works were to be started in May 2018 and complete in May 2019.   the volume of investments is $ 30 million, the number of employees is  300-400 people.