Semko CIS to invest $11 million in Armenia
27.10.2016,
17:24
The Armenian government has awarded today Semko CIS company the status of resident company at Alliance free economic zone after the company has pledged to invest $11 million in the next five years into the production of printing materials with high level of protection.
YEREVAN, October 27. /ARKA/. The Armenian government has awarded today Semko CIS company the status of resident company at Alliance free economic zone after the company has pledged to invest $11 million in the next five years into the production of printing materials with high level of protection.
Later, the company plans to begin manufacturing of machines and equipment for the production of these products.
According to deputy economic development and investment minister Garegin Melkonyan, the company intends to work not only in Armenia, but also in other countries of the Eurasian Economic Union. In 12 months it plans to export $2.5 million worth products and increase it to about $8 million in the next 5 years.
The company plans to create 20 jobs with an average salary of 200 thousand drams (about $ 400). Semko CIS will print banknotes, passports, various government documents, bonds, licenses and certificates, plastic cards, identity cards, driving licenses, credit cards and more. -0-
Later, the company plans to begin manufacturing of machines and equipment for the production of these products.
According to deputy economic development and investment minister Garegin Melkonyan, the company intends to work not only in Armenia, but also in other countries of the Eurasian Economic Union. In 12 months it plans to export $2.5 million worth products and increase it to about $8 million in the next 5 years.
The company plans to create 20 jobs with an average salary of 200 thousand drams (about $ 400). Semko CIS will print banknotes, passports, various government documents, bonds, licenses and certificates, plastic cards, identity cards, driving licenses, credit cards and more. -0-
