Time in Yerevan: 11:07:36,   24 November

Operation of Amulsar gold mining to produce 12-14 tons of gold anually

YEREVAN, DECEMBER 24, ARMENPRESS. A number of major investment projects are marked in Armenia for 2016. As Head of Investment Policy Department at Ministry of Economy of Armenia Vahagn Lalayan informed during the press conference in “Armenpress” media hall, an agreement was made with “Lydian International” company and financial groups which implements the project of Amulsar gold mining operation. An agreement was signed with the financial and investment companies for implementation of the project according to which investment of 325 US dollars will be made. Investments of the International Financial Corporation and the European Bank for Reconstruction and Development will also be added amounting to 460-480 US dollars. Nearly 60 million US dollars was spent on gold and silver processing, 80 million US dollars for technological equipment and 160 million US dollars for acquisition of new technological lines and mills.

As a result, the annual production of gold will form 12-14 tons in Armenia. Approximately 1,500 employees will be employed in construction.

According to Lalayan, Armenian-Czech Company “Greeneco Kas” plans to construct a waste processing plant and a greenhouse in Armenia's Armavir Province. The total cost of the project is estimated at 33 million Euros.

"SAMT Holding" company plans to produce luxury accessories under famous «CAVIAR» brand. The brand's products are entirely handmade. US $ 500 million will be invested in the result and at least 25 new job places will be created.

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