Karkhas company will invest 2,06 billion AMD in the construction of a cascade of small hydro power plants in the Nagorno-Karabakh Republic (NKR/Artsakh).

The company will generate energy, using the potential of rivers in the territory of Mirik and Moshatagh communities of Artsakh’s Kashatagh region. At its subsequent session, the Armenian Government exempted the company from VAT payments for the equipment imported by the company for three years.

The respective draft decision was introduced by Deputy Minister of Economic Development and Investments Tigran Khachatryan.

Within the framework of the investment program and according to the substantiation of the draft decision, the VAT payments for the imported equipment will be suspended for three years. The value of the imported equipment will amount to 502,2 million AMD. As a result of the program implementation, it is planned to create 10 new jobs with an average salary of 100,000 AMD.