New company with British capital to start operating in Armenia in summer

PanARMENIAN.Net - During the April 21 sitting, the Armenian government made a decision to prolong terms for using ‘Temporary Import’ customs regime by Ararat Group company until December 30, 2015.

Armenian Minister of Economy Tigran Davtyan told a briefing that the total volume of investments by the company will make USD 27mln by the end of 2011, as a result of which 220 jobs will be created.

Ararat Group (Artashat) is established by a British company, which is going to organize mineral water production and agricultural products processing in Armenia, with usage of modern equipment, what will allow increasing products competitiveness in both internal and foreign markets, as well as promoting Armenia’s export.

Davtyan also said that the company will be technically launched in June-July 2011.

According to him, similar decisions of the government aim to support business.