Some 3.78 billion drams to be invested in Sevan sugar factory

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04.10.2018, 19:20

A sugar factory in the Armenian town of Sevan plans to invest 3.78 billion drams (approximately $7.8 million) in the resumption of its operation, according to a draft government decision on the provision of tax benefits to the company.

Some 3.78 billion drams to be invested in Sevan sugar factory

YEREVAN, October 4. /ARKA/. A sugar factory in the Armenian town of Sevan plans to invest 3.78 billion drams (approximately $7.8 million) in the resumption of its operation, according to a draft government decision on the provision of tax benefits to the company.

The government decided today to award the company a 3-year VAT deferment and exempt it from customs duties on the import of goods and equipment for the factory.

This business project is expected to create 95 new jobs with an average salary of 129,000 drams. ($ 1 - 485.06 drams). -0-

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