Royal Stoneware pledges to invest 1.2 billion drams in production of ceramic tableware
07.05.2015,
17:58
The Royal Stoneware company has been awarded today by the government of Armenia a VAT payment deferment after pledging to invest 1.2 billion drams in the production of ceramic tableware, economy minister Karen Chshmarityan said at a Cabinet session.
YEREVAN, May 7. / ARKA /. The Royal Stoneware company has been awarded today by the government of Armenia a VAT payment deferment after pledging to invest 1.2 billion drams in the production of ceramic tableware, economy minister Karen Chshmarityan said at a Cabinet session.
The minister said the company plans to import 900 million drams worth equipment for the plant from Italy.
He said the plant will create 80 jobs with average wage of 180,000 drams for the first year. It will then rise to 200,000 drams in a year and to 240,000 drams in the third year
The company plans to produce this year 300 million drams worth products which will be exported to USA, Europe and former Soviet republics.
The deferment was earlier awarded to companies which import more than 300 million drams worth modern equipment or technology to expand their output and modernize production facilities. Last year the government lowered the ceiling to 200 million drams. ($1 – 480.96 drams). -0-
