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YEREVAN, DECEMBER 27, ARMENPRESS. Minister of Economy Gevorg Papoyan announced on his Facebook page that 12.5 percent of the shares of Lydian Armenia CJSC have been transferred to the Armenian Government.
The minister noted that on December 27, the contract signing ceremony took place at the Ministry of Economy. Minister Papoyan signed the contract on behalf of the Armenian government, while Hayk Aloyan, the Director of Lydian Armenia CJSC, signed on behalf of the company.
Through this project, $500 million has already been invested, with plans to invest an additional $250 million. The initiative is expected to create approximately 1,000 new jobs.
According to Minister Papoyan, the signing of the contract signifies that all stages of the process have been successfully completed.
“This is a megaproject that will result in the creation of over a thousand jobs and significant contributions to the state budget through taxes. It will contribute to the development of the local community. We have full confidence in the success of this project,” said Minister Papoyan.
In response to questions from journalists, Director Hayk Aloyan stated that construction work on the Amulsar mine will commence in the upcoming quarter, with actual operations expected to begin in the fourth quarter of 2025.