ArmInfo.On July 29, the Armenian government satisfied the application of "Texas Production" CJSC for exemption from import customs duties on imported technological equipment, their components, raw materials and materials imported within the framework of the investment program, which implies investments of about 1 billion drams.
According to the explanatory notes, the CJSC is engaged in the production of clothing. Within the framework of the investment program, which is being implemented within 3 years, 995.3 million drams will be allocated for the purchase of raw materials. 20 new jobs will be opened with an average monthly salary of 180 thousand drams.
The cost of goods for which the privilege is granted is 994.1 million drams. The exemption from customs duties is 52 million drams.
It is noted that the company plans to occupy leading positions in terms of export volumes from Armenia, 80% of its products will be exported to the Russian Federation and the EU, and the remaining 20% will be sold in Armenia.
The Texas Production knitwear factory established in 2017. The firm is spread over two floors of 2500 square meters, in the city of Yerevan, with 200 employees and 80 knitting machines. According to the information on the CJSC website, the company produces from 400 to 500 different models per year. According to the information of the National Certification Body, CJSC is engaged in the production of hosiery of the second layer from cotton yarn, from blended yarn, from synthetic yarn, from artificial yarn, from linen yarn, from natural silk threads, from woolen yarn for women.
