Armenian builder-cement firm Dragsman Cement plans to invest AMD1.9bn (US$5.0m) in establishing a new cement-production line using imported equipment, according to the Armenian News Agency (ARKA).
The investment is broken down as follows: AMD1.4bn for fixed assets; AMD250m for dismantling and installation; AMD50m for construction; and AMD200m for specialised equipment. The government has granted the company a customs-duty exemption estimated at AMD40.9m.
As part of the project, employment at Dragsman Cement is expected to increase from the current 10 staff to around 50. The government approved the duty relief at a meeting held on Friday.
The new cement facility is positioned to enhance domestic supply in the Armenian market and potentially support regional export capacity, as Armenia seeks to expand industrial output in the construction-materials sector.
