Nor Projects company to invest 152 million drams in production of furniture

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07.11.2019, 16:05

The Armenian government has awarded today Nor Projects company with a set of customs benefits.

Nor Projects company to invest 152 million drams in production of furniture

YEREVAN, November 7. /ARKA/. The Armenian government has awarded today Nor Projects company with a set of customs benefits. The company has pledged to invest 152 million drams in the production of furniture and will spend part of that money on import of new equipment and raw materials.

Minister of Economy Tigran Khachatryan specified at the government meeting on Thursday that 113 million drams will be spent on the purchase of raw materials for the production of furniture for stores.

According to him, the company has 48 employees on its payroll with an average salary of 161 thousand drams. The new investment will enable it to create 30 more new jobs with an average salary of 210 thousand drams.

The minister said that the company plans to manufacture 2.4 billion drams worth furniture, selling the bulk, worth 1.8 billion drams, in Russia and other countries which make the Eurasian Economic Union. ($ 1 - 476.84 drams). --0

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