News Bureau

March 13, 2019

Kotayk wishes to be a major

The diamond industry in Armenia’s Kotayk Province is experiencing noticeable progress and the number of business operators in the sector is expected to grow soon. Kotayk Governor Romanos Petrosyan told that the city of Abovyan currently has a diamond manufacturing company with 80-100 employees.

“There are businessmen who intend to attract major investments by working in Abovyan, associated with the post-revolutionary political situation. Concrete steps are already being made in this direction. Large scale construction has recently commenced in Abovyan, in the territory of the former Sirus factory.

The diamond industry plants will be located here. It is planned that Hong Kong and Dubai based diamond manufacturers will open offices in Abovyan and will start production,” the governor said, adding that according to the business plan 3000 jobs will be created in the coming years.

He said the companies are also planning to conduct training programs so that skilled specialists will be available simultaneously with the completion of the construction. Governor Petrosyan has already met with the businessmen and offered his support.

There is currently 7-8 medium diamond manufacturing companies operating in Kotayk, with the production being exported to Russian and European markets. The next direction that the province is developing is tourism. Soon the province will have two new major hotel complexes. Local authorities are also developing eco-tourism infrastructures in high altitude mountainous areas.

Petrosyan says they also highlight intensive gardening and technological agriculture. There are about 90 hectares of greenhouse businesses in the province, with an additional 17 hectares under development. Projects are also planned in the renewable energy sector.

Wind power stations will be constructed in accordance to a memorandum singed with a joint Italian-Spanish enterprise. Several communities will also have solar power stations.