Armenia’s “Voske Kat” to Invest $201 Million in Dairy Sector Expansion
Source: DairyNews.today
Armenian dairy company "Voske Kat" LLC plans to invest 78.8 billion drams ($201.2 million) to enhance its production capabilities, focusing on new equipment and the procurement of imported raw materials.
The Armenian government announced on Thursday that it would exempt the company from import customs duties as part of an initiative to support priority sectors.
The investment includes 100 million drams for advanced equipment and 78.7 billion drams for sourcing high-quality raw materials. Production will be based in Armenia's Kotayk region.
Founded in 2021, Voske Kat aims to expand its workforce significantly under the program. The company expects to increase its headcount from six employees currently to 36 by 2027, reflecting a broader commitment to growth in the dairy industry.
This investment aligns with Armenia’s broader efforts to stimulate industrial growth and modernize its agricultural processing sector. The government’s support underscores the importance of fostering local enterprises in priority areas of the economy.
($1 = 391.63 drams)
The investment includes 100 million drams for advanced equipment and 78.7 billion drams for sourcing high-quality raw materials. Production will be based in Armenia's Kotayk region.
Founded in 2021, Voske Kat aims to expand its workforce significantly under the program. The company expects to increase its headcount from six employees currently to 36 by 2027, reflecting a broader commitment to growth in the dairy industry.
This investment aligns with Armenia’s broader efforts to stimulate industrial growth and modernize its agricultural processing sector. The government’s support underscores the importance of fostering local enterprises in priority areas of the economy.
($1 = 391.63 drams)
