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Arms producer given green light for $6.7 mln investment in Armenia

Arms producer given green light for $6.7 mln investment in Armenia

PanARMENIAN.Net - Weapons manufacturer Arsenal LTD will invest AMD3.26 billion ($6.7 million) in Armenia and create 200 new jobs.

The government on Thursday, February 21 decided to provide customs privileges to the company for the import of technological equipment, their components and raw materials.

The annual output will amount to AMD 44.4 billion (more than $91 million).

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Upon the Board's approval, an amount equivalent to about $35.5 mln becomes immediately available to Armenia.
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