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28-12-2017 15:07 3609

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At the end of each year, Lydian Armenia publishes the amounts paid to the local budgets for Amulsar adjacent communities as part of their commitment to transparency.

According to the report, Lydian paid $ 863,300 to Jermuk, Zaritap and Gorayk communities in 2017, of which Jermuk - $ 318,744, Zaritap - $ 290 694, Gorayk - $ 253,845. These are direct payments made to local community budgets for land lease for the Amulsar Project Infrastructure. In 2017 Gndevaz, Saravan and Gorayk communities of Amoulsar became part of the enlarged Jermuk, Garitap and Gorayk communities. Until the community enlargement, Lydian used to pay land lease payments to Gndevaz, Saravan and Gorayk communities. Since 2008, Lydian has paid more than $ 4 million to these communities. As a result of the enlargement of communities, now payments are directed to larger communities: Jermuk (including Gndevaz), Zaritap (including Saravan) and Gorayk. These fees allow communities to implement various infrastructure renovation projects, such as roads, irrigation systems, schools and other local infrastructure improvements, water supply, street lighting, and more. Lydian Armenia also encourages communities to invest those funds into social development projects, expecting partial funding by communities as well. The Amulsar project has not yet started production, but in this active phase of construction, the project's economic impact on the region is already evident. At Amulsar, more than 1,400 people are currently employed, of which 482 are from neighboring communities. Lydian Armenia is proud to be among the top 20 taxpayers in Armenia according to official statistics.

Taking into account the fact that Amulsar project has not yet started production, Lydian is already the 19th largest taxpayer in Armenia demonstrating the significant economic impact of the Amulsar project, as well as the Lydian's being a responsible and pattern company. Another indicator of economic activity in the region is the steady growth of local procurement carried out by Lydian Armenia and its contractors. The amount spent on local procurement has increased from $ 54,000 to $ 325,000 a month from March to November of 2017.

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