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Gagik Aghbalyan

Police Do Business with Toyota-Yerevan Ltd., 30% Owned by Son of Armenia’s Second President

On June 1, Armenia’s Police Department signed a 40 million AMD (US$ 84,000) service and repair contract with Toyota-Yerevan Ltd.

30% of the company is owned by Sedrak Kocharyan, the son of Armenia’s second president Robert Kocharyan. Another 30% is owned by Natalya Matinyan, who in turn owns 50% Haykakan 2 TV.

While the contract obliges Toyota-Yerevan Ltd. to service twenty Toyota automobiles purchased by the Police during 2012-2015, the Police Public Affairs Department says that the 40 million AMD is for servicing the 119 Toyota police cars during the current year.

The department claims that the twenty Toyotas purchased from 2012-2015 are still under warranty and will be serviced at no charge.

One of the addendums to the June 1 contract reveals that the Police purchased 27 Toyotas from Toyota-Yerevan Ltd. for a total of 302 million AMD ($634,270). 

Their warranty is for 36 months or 100,000 kilometers. 

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