The Armenian Government has decided to exempt the ArmPower company from customs duties. The company will use the imported goods for the construction of a 250 MW gas-fired combined cycle power plant.
ArmPower has already invested about 69 billion drams and will invest another 61 billion in the purchase of necessary equipment and construction of the plant.
Currently, there are six jobs, another 106 with an average salary of 545,000 drams will be created.
In terms of capacity alone, the plant’s annual sales will be about 20 billion drams. Power generation volumes will be determined by the system operator.
The produced electricity will be fully supplied to “Electric Networks of Armenia” CJSC.