Alex Textile exempted from customs duties
06.04.2018,
10:09
The Armenian government exempted April 5 the Alex Textile company from the payment of customs duties after it has pledged to import equipment worth 706.3 million drams to expand output.
YEREVAN, April 6. /ARKA/. The Armenian government exempted April 5 the Alex Textile company from the payment of customs duties after it has pledged to import equipment worth 706.3 million drams to expand output.
The Minister of Economic Development and Investments Suren Karayan said at a government meeting on Thursday that the company plans to expand textile production and create 80 new jobs with an average monthly wage of 70,000 drams ($145).
Part of the output worth 683.8 million drams is to be sold in Armenia, another part worth 833.6 million drams –in Russia and 2.5 million drams worth output– in Italy.
Alex Textile said earlier it had invested 7 million euros in the construction of a new branch of its garment factory. The daily output is said to reach 15 tons; the factory will open also about 400 new jobs.
Alex Textile also plans to invest about 10 million euros in the construction of a factory on 20 thousand square meters to produce towels and home textiles. The factory will create about 500 new jobs. ($1 - 480.21 drams). -0-
The Minister of Economic Development and Investments Suren Karayan said at a government meeting on Thursday that the company plans to expand textile production and create 80 new jobs with an average monthly wage of 70,000 drams ($145).
Part of the output worth 683.8 million drams is to be sold in Armenia, another part worth 833.6 million drams –in Russia and 2.5 million drams worth output– in Italy.
Alex Textile said earlier it had invested 7 million euros in the construction of a new branch of its garment factory. The daily output is said to reach 15 tons; the factory will open also about 400 new jobs.
Alex Textile also plans to invest about 10 million euros in the construction of a factory on 20 thousand square meters to produce towels and home textiles. The factory will create about 500 new jobs. ($1 - 480.21 drams). -0-
