ArmInfo.The Armenian government approved on Thursday an application by the Pure Land Ltd for being listed among the operators of the Meghri free economic zone. The company plans to construct a food packages factory. No information on investments or any other details is available. The company will be on the operator list for ten years.
The Pure Land Ltd was founded on February 11, 2020. No free information on the company owners is available.
The Meghri free economic zone was established in Meghri, Syunik province, under the RA Government`s decision of December 7, 2017. The Meghri Free Economic Zone CJSC is operator of the free economic zone. The free economic zone was launched on December 15, 2017.
From 100 to 120 companies are expected to operate in an area of 10 to 15 hectares, with a further expansion of the area up to 45 to 50 hectares. The companies` total proceedings during their 10-year activities are estimated at $52mln. The products could be exported to Iran, EAEU member-states, Middle East countries, etc. The construction of the Meghri free economic zone was estimated at $32mln, with capital expenditures totaling $28mln. The investments by all the companies are expected to reach $350- $400mln in ten years. The EAEU Customs Code provides for free economic zones, and seven free economic zones operating the duty-free system will be working in EAEU.
