Thursday, June 20 2024 12:52
Alexandr Avanesov

Jermuk Group CJSC to invest AMD 10.3bln in production of polyethylene  thermal insulation film

Jermuk Group CJSC to invest AMD 10.3bln in production of polyethylene  thermal insulation film

ArmInfo. Jermuk Group CJSC, engaged in the production of mineral water in Armenia, is investing  10.3 billion drams to organize the production of polyethylene thermal insulation film. At a meeting on June 20, the RA Government exempted the company from paying customs duties on imported technological  equipment, its components and components, raw materials and materials.

As noted in the rationale for the draft decision, the company intends  to establish production in the Vayots Dzor region. In addition, the  company plans to purchase refrigerated semi-trailers for the export  of finished products. The company plans to export 80 percent or more  of its products to the countries of the European Union, UAE, USA,  Georgia and other countries.

Currently, the rationale notes, there is a need to introduce plastic  pallets, which are designed for the safe transportation of industrial  or imported goods and materials with minimal risk of injury during  transportation, which will reduce the overall weight of the cargo,  minimizing the possible impact of heavy vehicles on the roads.

The customs duty exemption benefit is estimated at 576 million drams.  The provision of tax benefits, the message emphasizes, will be a  serious incentive for the implementation of new investment programs  and, as a result, for creating new jobs, attracting investment,  promoting local production and exports.  

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