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SITRONICS TO HELP OPEN FIRST FREE ECONOMIC ZONE IN ARMENIA; $10 MLN INVESTED
Interfax, Russia
July 18, 2013 Thursday
Yerevan
The first free economic zone in Armenia will be launched on August 1,
2013, Economy Minister Vagram Ananesyan said at a government session
on Thursday.
The free economic zone is being created on the basis of the Yerevan
mathematical machines scientific research institute (YerNIIMM) and
CJSC RAO Mars. Sitronics Armenia, a subsidiary of Russian Sitronics
(RTS; SITR), the designated organizer of the zone, has already invested
$10 million in the project.
The economic zone will host companies in the electronics, precision
engineering, pharmaceuticals, biotech, IT, alternative energy and
telecommunications sectors.
The Armenian government approved formation of the zone on February 2,
2012, which was also when Sitronics Armenia was selected as organizer.
Sitronics, a Sistema (RTS: AFKS) company, formed Sitronics Armenia
in September 2009. Ownership of the Mars and YerNIIMM concerns was
transferred to Russia in 2003 in a debt settlement deal.
Jh ak
From: A. Papazian
Interfax, Russia
July 18, 2013 Thursday
Yerevan
The first free economic zone in Armenia will be launched on August 1,
2013, Economy Minister Vagram Ananesyan said at a government session
on Thursday.
The free economic zone is being created on the basis of the Yerevan
mathematical machines scientific research institute (YerNIIMM) and
CJSC RAO Mars. Sitronics Armenia, a subsidiary of Russian Sitronics
(RTS; SITR), the designated organizer of the zone, has already invested
$10 million in the project.
The economic zone will host companies in the electronics, precision
engineering, pharmaceuticals, biotech, IT, alternative energy and
telecommunications sectors.
The Armenian government approved formation of the zone on February 2,
2012, which was also when Sitronics Armenia was selected as organizer.
Sitronics, a Sistema (RTS: AFKS) company, formed Sitronics Armenia
in September 2009. Ownership of the Mars and YerNIIMM concerns was
transferred to Russia in 2003 in a debt settlement deal.
Jh ak
From: A. Papazian