Armenian entrepreneurs are going to launch a production of cigarettes for the European market in the city of Buchholz not far from Hamburg, Hamburger Abendblatt writes.

According to the newspaper, an Armenia-based company acquired 6 ha for about EURO 4,3 million. The local authorities do not yet unveil the name of the company.

“Armenians were granted an 18-month permit for the construction until mid-2017. At the stage of expanding its operation, up to 70 vacancies may be opened,” the newspaper writes.

“We are very happy about the establishment of another company in our city. This is indicative of the fact that Buchholz is attractive for investments,” city mayor Jan-Hendrik Röhse said.