Millkat LLC awarded exemption from customs duty in exchange for AMD 29 billion investment

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09.03.2023, 17:39

The Armenian government at Thursday's session exempted a dairy products manufacturer, Millkat LLC, from customs duties on imports of raw materials worth AMD 29 bln.

Millkat LLC awarded exemption from customs duty in exchange for AMD 29 billion investment

YEREVAN, March 9. /ARKA/. The Armenian government at Thursday's session exempted a dairy products manufacturer, Millkat LLC, from customs duties on imports of raw materials worth AMD 29 bln.

The government's decision notes that the company plans to use the raw material for butter production. The company is supposed to create 10 new jobs with average salary of AMD 170 thousand. The amount of the customs duty exemption is estimated at AMD 4.4bln.

Millkat LLC was founded in 2000. It produces butter, fat-and-cream and lean spreads, chocolate butter (under Elnor brand). The products are sold in Armenia and Artsakh (Nagorno-Karabakh). ($1 - 388.49 dram)--0—

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