Singapore Technologies Kinetics to invest in Armenia

The activities of Singapore Technologies Kinetics (ST Kinetics), the land systems and specialty vehicles arm of Singapore Technologies Engineering Ltd (ST Engineering), are to be officially announced in Armenia this autumn.

Speaking at the ArmTech Congress 2011 opened in Yerevan, Armenian Prime Minister Tigran Sargsyan said that the company has opened a branch office in Armenia. Its primary program will be establishing a research and development laboratory.

"The company plans to invest US 1 to 2 million dollars in Armenia annually during the following decade," the Armenian premier said.

Singapore Technologies Kinetics (ST Kinetics) is the land systems and specialty vehicles arm of Singapore Technologies Engineering Ltd (ST Engineering). It is one of Asia's leading defense and specialty vehicles company, with sales of over S$1.5 billion in 2010.