YEREVAN. – Government of Armenia considers issue of postponing the VAT for Astra Crystal Company. The company intends to cultivate raw material for technical sapphires and ready-made crystals.
The issue is included in the Government’s Thursday session. Postponement is required for deals linked with investing programs for the new plant. It will be installed with equipment from Russia and China and plans to cultivate up to 3 tons of raw material and 2 tons of crystal. The plant is targeted at light emitting diodes (LEDs) market, which consumes a significant part of the global production of industrial sapphires. They will also start developing laser and optical elements.