YEREVAN, February 13. / ARKA /. Ararat Food Company in Yerevan has been awarded today by the government a deferment of VAT payment after pledging additional 600 million dram investment in expansion of production.
The deferment is awarded to companies which import more than 300 million drams worth modern equipment or technology to expand their output and modernize production facilities.
In 2010 the company invested 1.6 billion in the establishment of a plant for the production of natural juices and created 100 jobs.
Thanks to the new equipment installed at the plant the company can process tomatoes, apricots, peaches and vegetables to get high quality raw materials for the production of canned products.
Ararat produces juices and nectars, tea and canned goods. Up to 80% of its output is sold to the CIS countries and Europe under the brands of Ararat , Lina and Josie . -0-