Martin Star to invest AMD 1.7 billion in coffee and ice-cream production in Yerevan

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23.02.2023, 18:13

The Armenian government on Thursday awarded the Martin Star coffee and ice-cream company tax benefits for import of raw materials.

Martin Star to invest AMD 1.7 billion in coffee and ice-cream production in Yerevan

YEREVAN, February 23. /ARKA/. The Armenian government on Thursday awarded the Martin Star coffee and ice-cream company tax benefits for import of raw materials.

The company intends to use the raw materials for expanding the production of ice cream that was launched in Yerevan in 2021 and production of black and instant coffee started in 2022.

Martin Star plans to invest 1.7 billion drams in the acquisition of working assets, including 1 billion drams in the production of ice cream, the rest in production of coffee.

It will also create 15 new jobs with average monthly salary of AMD 313-340 thousand. The company plans to invest 966 million drams in purchase of raw materials. The amount of customs benefits is estimated at 125 million drams. ($1 - 390.48 drams) --0--

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