Ararat group to invest $27 million in production of mineral water and soft drinks
12.04.2012,
18:08
Ararat Group Ltd will enlarge its investments in production of mineral water and soft drinks up to $27 million, Armenian Economy Minister Tigran Davtyan said Thursday at a regular governmental session.
YEREVAN, April 12. /ARKA/. Ararat Group Ltd will enlarge its investments in production of mineral water and soft drinks up to $27 million, Armenian Economy Minister Tigran Davtyan said Thursday at a regular governmental session.
At its Thursday’s meeting, the government permitted prolongation of Temporary Import customs regime for Ararat Group till December 30, 2016.
The regime offers a temporary tax reprieve to companies importing industrial equipment. The decision allows the government to delay by up to three years the collection of a 20 percent value-added tax (VAT) fr om such imports. They have to exceed 300 million drams and be delivered to manufacturing firms with export potential.
The minister said that the government made this decision taking into account the importance of Ararat Group’s investment program, which implies creation of 220 new jobs and development of exports.
Ararat Group, established in 2009, has a factory producing mineral water and soft drinks in the city of Artashat.
The company’s shareholder is British company Marton Forest Group Lim ited whose investments has already reached $14.5 million.-0-
