Armenian Minister of Economic Development and Investments Suren Karayan said today that Armenia agreed with Tatra truck company from Czech Republic to open a factory in Kotayk marz.

Minister Karayan made that statement at the request of Banks.am, commenting on the news that caused a heated discussion in the press.

“A delegation from TatraTrucks arrived in Armenia earlier by the invitation of Prime Minister of Armenia Karen Karapetyan. We had a meeting with the company’s representatives and discussed the possibility of establishing a production in Armenia. The Ministry implemented the corresponding work with Tatra.

I am happy to state that the memorandum signed by TatraТrucks and Zenon LLC implies creation of a Tatra truck factory in Armenia’s Kotayk marz. There are all preconditions for the agreements to be realized,” said Suren Karayan.

Minister Karayan called the public to follow the developments of the situation.

It’s worth reminding that Tatra was founded in 1850. As of 2014, the company had 845 employees and annual revenue of USD 148m.