YEREVAN. – Armoil company will be exempt from the customs duties for the imports of building materials for the construction of a large oil facility in Armenia.

The government made the respective decision at Thursday’s Cabinet session.

The explanatory note states that, within the framework of the investment program, the company plans to build an oil product plant in the country.

At the meeting, Minister of Economy Karen Chshmarityan added that a laboratory for the testing of oil products will also be opening.

The oil facility will be built in Yeghvard town in the Kotayk Province.