Industrial sector of Armenia to post 10% growth in 2012: economy ministry

YEREVAN, December 26./ ARKA/. Industrial growth in Armenia will reach 10% in 2012, Economy Minister Tigran Davtyan said Wednesday summarizing the year.

“The real sector is developing quite intensively. Industrial sphere will post a 10% growth from a year earlier, and the volume of industrial output has already exceeded 1 trillion drams as of November,” he said.

This result is unprecedented as independent Armenia reported no such figure before, according to him.

Industrial production in January-November 2012 totaled 1 002,4 billion drams, which was 9.1% higher from the same period a year earlier.

Davtyan highlighted a number of new enterprises will be put into practice in Armenia in the near future. Particularly, he mentioned Aske Group in Charentsavan (armature producing, investments stood at 7.3 million drams), Natfood meat processing line ($4 million in investments), Astra Crystal will start growing and processing crystals (4.2 billion drams). 

According to the Ministry of Economy, Armenia’s government approved 8 industrial investment programs in 2012. The total investments stood at 17.5 billion drams. Implementation of these investment programs will ensure nearly 340 new jobs. ($1 – 403.9 drams). —0-