Jermuk Group to invest 10.5 billion drams to ramp up output
25.12.2015,
10:02
The Armenian government exempted Thursday Jermuk Group company, engaged in the production of mineral water and soft drinks, from payment of duties on imported equipment after it pledged to invest 10.5 billion drams in the development of production, economy minister Karen Chshmarityan said.
YEREVAN, December 25. /ARKA/. The Armenian government exempted Thursday Jermuk Group company, engaged in the production of mineral water and soft drinks, from payment of duties on imported equipment after it pledged to invest 10.5 billion drams in the development of production, economy minister Karen Chshmarityan said. According to him, the investment is expected to create 105 new jobs.
"The investment will enable the company to ramp up production to 26 billion drams per year, of which 14.5 billion worth products will be sold domestically and the rest will be exported,' said Chshmarityan.
The minister said that the exemption would be a serious impetus for the investment program, creation of new jobs, attraction of fresh investment and stimulation of local production and exports.
Earlier, Jermuk Group announced its intention to build a new plant for the production of mineral water because of the growing demand for its products prompted by Armenia’s accession to the Eurasian Economic Union. The construction of the new plant began in April 2015 and is expected to be completed in the first quarter of 2016. Equipment for the new company will be imported from Germany.
According to preliminary estimates, the investments in the construction of the new plant will be from 6.5 to 7.5 billion drams, of which 6 -6.5 billion drams will be spent on acquisition of equipment. ($ 1 - 478.97 drams). -- 0—
"The investment will enable the company to ramp up production to 26 billion drams per year, of which 14.5 billion worth products will be sold domestically and the rest will be exported,' said Chshmarityan.
The minister said that the exemption would be a serious impetus for the investment program, creation of new jobs, attraction of fresh investment and stimulation of local production and exports.
Earlier, Jermuk Group announced its intention to build a new plant for the production of mineral water because of the growing demand for its products prompted by Armenia’s accession to the Eurasian Economic Union. The construction of the new plant began in April 2015 and is expected to be completed in the first quarter of 2016. Equipment for the new company will be imported from Germany.
According to preliminary estimates, the investments in the construction of the new plant will be from 6.5 to 7.5 billion drams, of which 6 -6.5 billion drams will be spent on acquisition of equipment. ($ 1 - 478.97 drams). -- 0—
