YEREVAN. – A Russian company plans to produce light-emitting diode in a free economic zone in Armenia.
A permission for the company was approved by Armenian government during the session on Thursday.
Company plans to produce lighting devices based on LED emitters. By the end of 2015 the company plans to increase export volume up to $3 million and provide 35 jobs. The project is estimated at about $1 million, and Russia will become the main market.
“Alliance” is the first free economic zone operating in Armenia since August 1, 2013. The management company Sitronics Armenia, a subsidiary of the Russian company Sitronics JSC.