Chinese company promises to build storage facility in Armenia

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Economy

28.02.2019, 15:34

Armenian Deputy Prime Minister Tigran Avinyan received February 27 a delegation of the Chinese company Guoming, led by its President He Yurong.

Chinese company promises to build storage facility in Armenia

YEREVAN, February 28. /ARKA/. Armenian Deputy Prime Minister Tigran Avinyan received February 27 a delegation of the Chinese company Guoming, led by its President He Yurong. The meeting was also attended by the Minister of Economic Development and Investments Tigran Khachatryan, the press service of the government said.

It said the Chinese entrepreneurs intend to build a large storage facility in Armenia that will serve trade flows to the Eurasian Economic Union, the EU and other countries. The company wants also to build a production zone in Armenia for companies producing, in particular, aluminum furniture that is to be exported.

In general, the proposed investment is estimated at $100 million. It is expected to create 300-400 jobs. Avinyan said the government is paying great attention to the protection of investments and has initiated the development of a new relating law. -0-

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