Armenian manufacturer of printing and packaging products invests nearly AMD 20 bln in expansion of output

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07.03.2024, 19:00

The Armenian government decided today to exempt Ginap Company from customs duties on import of raw materials and equipment in return for its pledge to invest AMD 19.7 billion in the expansion of the output.

Armenian manufacturer of printing and packaging products invests nearly AMD 20 bln in expansion of output

YEREVAN, March 7. /ARKA/. The Armenian government decided today to exempt Ginap Company from customs duties on import of raw materials and equipment in return for its pledge to invest AMD 19.7 billion in the expansion of the output.

The raw materials imported by the company are to be used for flexographic printing, production of food bags and multilayer films used in the packaging industry.

The company said it will invest 2.3 billion drams in the purchase of equipment and 17.4 billion drams in the purchase of raw materials.

Currently, it employs 91 workers with an average monthly salary of 190 thousand drams. Within the framework of the investment program it is to increase the number of jobs to 112 by 2027. ($1 - AMD 403.94). --0--

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