Arsenal Ltd to invest $6.1 million in production of weapons and ammunition

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21.02.2019, 16:00

Armenian Arsenal Ltd. will invest 3 billion drams (about $6.1 million) in the production of weapons and ammunition, Minister of Economic Development and Investments Tigran Khachatryan said during a government meeting on Thursday.

Arsenal Ltd to invest $6.1 million in production of weapons and ammunition

YEREVAN, February 21. /ARKA/.Armenian Arsenal Ltd. will invest 3 billion drams (about $6.1 million) in the production of weapons and ammunition, Minister of Economic Development and Investments Tigran Khachatryan said during a government meeting on Thursday.

The government provided today Arsenal Ltd. with a set of customs duties benefits for import of technological equipment and raw materials.

The minister said the imported equipment and raw materials will be used for the production of weapons and ammunition. He added that the company has been operating in Yerevan since 2017.

The minister said the company’s investment is to create 200 new jobs with an average salary of 250 thousand drams. ($1 – 487.59 drams). --0--

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