ArmInfo. ELAY Solar LLC is investing $ 2.6 million in the production of photovoltaic panels in the territory of RAO MARS CJSC in the Alliance Free Economic Zone. An application from the company for an explant for a period of 4 years was approved at a government meeting on September 26.
According to the Minister of Economy of Armenia Tigran Khachatryan, the company has been operating since 2013 in the state of California, USA. At present, ELAY Solar annually produces products worth $ 137 thousand, in the near future it is planned to increase volumes to $ 12 million:? products will be exported to the United States, the rest? in the Russian Federation, RA and Georgia.
As part of the investment program, 15 new jobs will be created with an average monthly salary of 300 thousand drams.
Recall that the first Alliance Free Economic Zone (FEZ) in Armenia has been operating since August 1, 2013 in the territory of RAO Mars CJSC and Yerevan Scientific-Research Institute of Mathematical Machines CJSC (YERNIIMM). The Free Economic Zone, managed by Sitronics, is located on a total area of over 100 thousand square meters, including the Mars factory with an area of 77 thousand square meters and the Institute of Mathematical Machines with an area of 27 thousand sq.m.
Free economic zones operate in two directions - high technology and the production of new technologies. One of the prerequisites for the formation of FEZ is the production of products aimed at export. At present, 4 free economic zones have been created in Armenia - "Alliance", "Meridian", "Meghri", and "Ecos".