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.
