ARAX POULTRY FACTORY IS PLANNING TO INVEST ALMOST 1MLN EUR IN MODERNIZATION
ArmInfo
2009-11-12 18:30:00
ArmInfo. Arax Poultry Factory is planning to invest almost 1mln EUR
in modernization, Minister of Economy Nerses Yeritsyan said during
a government meeting today.
The Government has decided to put off the company’s VAT payments
for imported equipment from Oct 2009 till Oct 2012. This privilege
is provided to companies whose investments exceed 300mln AMD. Arax
Poultry Factory has so far invested 360,000 EUR in modernization. The
money has been spent mostly on the purchase of German equipment. These
investments will allow the company to create 230 additional jobs with
average salary of 70,000 AMD.
This is already the fourth company to have got such a privilege
this year.