Esco-Pharm company to invest AMD 896 mln in Armenia

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15.02.2024, 18:25

The Armenian government today exempted the Esco-Pharm company from customs duties in exchange for plans to invest 896 million drams in the project implemented in the industry recognized by the government as a priority.

Esco-Pharm company to invest AMD 896 mln in Armenia

YEREVAN, February 15. /ARKA/. The Armenian government today exempted the Esco-Pharm company from customs duties in exchange for plans to invest 896 million drams in the project implemented in the industry recognized by the government as a priority.

The company plans to import raw materials for the production of oral hygiene products, moisturizing creams, liquid medicinal ointments and others.

Esco-Pharm was founded in 2011 in Yerevan. It has already invested 561 million drams in capital construction and another 479 million drams in the purchase of raw materials.

The company intends to spend another 100 million drams on purchasing new equipment, construction of production facilities and registration of drugs abroad.

Currently, 1it employs 25 people. By 2028, it is to create 15 more jobs with an average monthly salary of 120,000 drams. Exempted customs duties will amount to 78.5 million drams. --0--

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