Nikol Pashinyan introduced to investment program for production of farm machinery
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Acting Prime Minister Nikol Pashinyan received Armen Harutyunyan, the head of Lithuanian Beltekhnika company, which is engaged in the production of agricultural equipment. The parties discussed issues related to Beltekhnika’s initiative to implement an investment project for the production of agricultural machinery in Armenia.
Assuring of the Armenian government’s interest in implementing the proposed investment project, Nikol Pashinyan said it will generate new jobs in tune with his government’s drive for providing favorable conditions for investors. Armen Harutyunyan advised that they are going to produce modern farm equipment, affordable for local farmers, part of which will be exported to the European market.
The new plant will be created on the basis of the former Hayelectromash factory. 5-7 million US dollars will be invested at the first stage, which will be followed by an investment of USD 10-15 million. Armen Harutyunyan said that his team will start working on its implementation as early as on December 1, 2018.
The first plant’s annual output capacity is 3,000 tractors. The second plant will increase the output by additional 5,000 tractors. Nikol Pashinyan welcomed the initiative and expressed confidence that it was going to be a success story.