Thursday, November 11 2021 17:45

ArmInfo. The Areg Energy Lts and Rock Berry Ltd will invest nearly AMD 4bln in the construction of a solar power station in Vaiots Dzor and greenhouse facility in  Kotayk. The RA Cabinet approved on Nov. 11 the companies' application  for exemption from import customs duties on imported equipment and  spare parts, raw materials and other goods imported under an  investment project in a priority field.

Areg Energy plans to construct and operate a solar power station with  a designed capacity of 5MW in the village of Saravan, Zaritap  community, Vaiots Dzor province. The company will employ up-to-date  construction techniques. The electric energy to be generated by the  solar power station will be sold to the Electric Networks of Armenia  CJSC. The investments required for the construction, testing and  operation of the solar power station totals AMD 2.2bln (AMD 288mln  for land purchase, 1.4bln for purchase of equipment and AMD 460mln  for construction design work). About 89% of the total investments  have been made - land purchase, construction, design work, payment  for equipment. The investment tax allowance applies to AMD 76.5mln  worth goods.

Another decision grants an investment tax allowance to the Rock Berry  Ltd for the construction and operation of greenhouse facility with a  production area of 3 hectares in the Kamaris community, Kotray  province. The greenhouse is designed for growing various  strawberries. The investments are expected to total AMD 1.8bln, with  capital investments to reach AMD 1.6bln, with the rest funds to be  invested in the purchase of raw materials. The greenhouse is expected  to employ sixty-five people with average monthly wages of AMD  240,000. Over 80% of the output will be exported. The investor  submitted an investment tax allowance application for AMD 4.5bln  worth goods. The investor will be exempted from customs duties to an  estimated amount of AMD 212mln.