YEREVAN, FEBRUARY 2, ARMENPRESS: A new program in Armenia's energy and mining industry sphere will be carried out essentially promoting the economic growth. With that aim the cabinet approved at February 2 sitting the bill on prolonging the payment of the VAT by the "HANA-TRANS" company in case of import of products amounting 300 million AMD.

Minister of Economy of Armenia Tigran Davtyan noted that it is a regular investment program in the energy and mining industry sphere. It is intended to transfer coal from Nagorno Karabakh for the operation of the Yerevan thermal power plant. For that reason "HANA-TRANS" transport company will be established which must carry out this transportation. The total investments will make 1.9 billion AMD, hundreds of jobs will be created.

Prime Minister Tigran Sargsyan noted that this program has a serious national security component. "It essentially reinforces our energy security and increases flexibility of usage of energy resources. Besides, a new road will be built tying us with Nagorno Karabakh through which the raw materials will be transported to Armenia," the PM said.

Referring to the above mentioned investment program the head of the government noted that with it an additional resource will appear in the energy system which will reduce the cost price of electricity. "It will promote the economic growth in 2012," Tigran Sargsyan said.