YEREVAN, November 12. /ARKA/. On Thursday, Armenian government adjourned Arax poultry factory’s VAT paпроyment for three years as part of its bailout program.

Armenian Economy Minister Nerses Yeritsyan said that the government has decided to adjourn VAT pays for those companies whose investment programs or imported equipment cost AMD 300 million or more.

He said that Arax imports equipment worth AMD 870 million. The minister said that the company is planning to open new jobs by 100 and raise an average monthly salary to AMD 70,000.

The imported equipment is intended for building up meat, egg and poultry production as well as corn procession. Investments needed for the project implementation are estimated to reach €1 million, of which the company has already invested €360,000. Yeritsyan said that Arax is the fourth company enjoying adjournment. --0--