EcoLur
The Armenian Government is indifferent to the environmental protest demonstrations. Today it set another privilege for “Teghout” CJSC. “The Armenian Government has decided to postpone the payment of VAT for goods exceeding 300 million AMD imported from 1 March 2013 to 31 December 2013 to 1 March 2016 under the investment program of “Teghout” CJSC. The company was founded in 2006 by “Armenian Copper Program” CJSC as 100% shareholder subsidiary to implement the development project of Teghout copper and molybdenum mine in Armenia, the second largest mine. The first stage of the project will be implemented in 28 years, the total investments are estimated over 338 million USD, out of which 132 million USD will be spent on the construction of a plant and purchase of equipment. The concentrates of copper and molybdenum will be produced starting from 2015. Over 1000 temporary jobs created from 2008 to 2013 will be replaced with the same number of permanent jobs with an average salary of 150,000 AMD. The company plans to obtain equipment for the furnishing of the factory worth 2.7 billion AMD, that’s why it’s needed to postpone payments of VAT,” says the official website of the government.
Reminder: “Teghout Support” Civic Initiative was holding a protest demonstration in front of the government to ban privileges for “Teghout” CJSC.
February 28, 2013 at 17:39