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Arax Poultry Factory Is Planning To Invest Almost 1mln EUR In Modern

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  • Arax Poultry Factory Is Planning To Invest Almost 1mln EUR In Modern

    ARAX POULTRY FACTORY IS PLANNING TO INVEST ALMOST 1MLN EUR IN MODERNIZATION

    ArmInfo
    2009-11-12 18:30:00

    ArmInfo. Arax Poultry Factory is planning to invest almost 1mln EUR
    in modernization, Minister of Economy Nerses Yeritsyan said during
    a government meeting today.

    The Government has decided to put off the company's VAT payments
    for imported equipment from Oct 2009 till Oct 2012. This privilege
    is provided to companies whose investments exceed 300mln AMD. Arax
    Poultry Factory has so far invested 360,000 EUR in modernization. The
    money has been spent mostly on the purchase of German equipment. These
    investments will allow the company to create 230 additional jobs with
    average salary of 70,000 AMD.

    This is already the fourth company to have got such a privilege
    this year.
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