650,000 AMD Average Salary: Over 200 New Jobs to Be Created in Armenia

The government’s decisions concerning investment projects in priority sectors will allow the companies "Solara", "Solar-5", and "Energy Design and Construction LLC" to benefit from customs duty exemptions.

The "Solara" company is set to import a production line for anodized aluminum parts, enabling the manufacturing of aluminum profiles intended for solar photovoltaic plants. The opening is scheduled for November 1, 2022. The aluminum parts production facility will consist of several buildings, including storage, production, and administrative areas. A capital investment of 355.7 million AMD has already been made. The projected investments for the project are about 3.1 billion AMD. Part of the planned investments has been allocated for the purchase of necessary premises for operation and for making advance payments for the acquisition of the aluminum production line.

The other portion of the investment is intended for the restoration and renovation of acquired premises, the construction of new buildings, as well as the procurement of necessary technological equipment, components, raw materials, and supplies, followed by the organization and implementation of work. Within the framework of the investment program, 200-210 new jobs are expected to be created with an average salary of up to 650,000 AMD. The value of the goods presented for exemption is 446.8 million AMD, and the customs duty exemption is estimated at 22.3 million AMD.

The "Solar-5" company plans to build a 5MW solar power plant in the Shoghakat community of Gegharkunik province using imported goods, which will have positive impacts on the country’s economic, environmental, energy, and strategic development. The project entails the import of equipment and construction and installation works. The generated electricity will be entirely sold to "HETC" LLC. The annual production of the plant will be around 10 GWh of electricity, equivalent to approximately 262 million AMD. Founded in 2018, the company plans to make an investment of about 1.9 billion AMD as part of the project, resulting in the creation of 6 new jobs with an average salary of up to 200,000 AMD. The value of the goods presented for exemption is 322 million AMD, and the customs duty exemption is estimated at 20.4 million AMD.

"Energy Design and Construction LLC" plans to build a 1MW solar power plant in the Geghamasar community of Gegharkunik province using imported goods, which will also positively influence the country’s economic, environmental, energy, and strategic development. The project will involve the import of equipment and construction and installation works. The produced electricity will be fully sold to "HETC" LLC. The annual output of the plant will be about 2 GWh of electricity, equivalent to 52.5 million AMD. Established in 2017, the company plans to invest around 430 million AMD within the project, resulting in the creation of 4 new jobs with an average monthly salary of 120,000 AMD. The value of the goods presented for exemption is 63.7 million AMD, and the customs duty exemption is estimated at 4 million AMD.