The investment package comprises AMD 1.4 billion allocated to fixed assets, AMD 250 million for dismantling and installation works, AMD 50 million for civil construction, and AMD 200 million for specialised auxiliary equipment. As part of the modernisation programme approved on Friday, the Armenian government granted the company a customs-duty exemption valued at AMD 40.9 million.
The project is expected to significantly expand operational capacity at Dragsman Cement’s existing facility. Upon completion, the workforce is projected to grow from the current 10 employees to approximately 50 permanent positions.
The new line will enable the company to increase output of high-quality cement to meet rising domestic demand in Armenia’s construction sector while creating additional potential for supplying neighbouring markets.
Implementation of the initiative supports broader efforts to strengthen local manufacturing capabilities in building materials and improve self-sufficiency in essential construction inputs.
Dragsman Cement’s expansion aligns with ongoing industrial development objectives in Armenia, where enhanced cement production capacity is viewed as a key factor in supporting infrastructure growth and related economic activities.
The duty exemption and investment plan were formally endorsed during a cabinet meeting held on Friday, paving the way for prompt commencement of equipment procurement and installation activities.
Once operational, the upgraded facility is anticipated to contribute to greater stability in domestic cement supply and provide a foundation for sustainable long-term growth in the sector.
