Republican Party of Armenia

Prime Sargsann Tigran Sargsyan visited today “Shahnazaryan Ltd” Wine and Brandy House in Yeghvard town of Kotayk Marz to get acquainted with company operations and investment programs.

Founded in 2009, the Company produces “Shahnazaryan” and “Pearl of Armenia” 3 to 7 year-old Armenian brandies and brandy spirit using local raw materials. Most of its output is exported toward the Russian Federation and Ukraine.

Last year Shahnazaryan Ltd procured some 11,815 tons of grapes to a total cost of AMD1.65 billion, which resulted in AMD3.82 billion worth of output, of which 3.79 billion was exported. In the 1st quarter of 2013, output rose to AMD4.67 billion - a net increase as compared to last year. The quasi-totality of the output is exported to Russia and Germany. They are planning to purchase around 8 000 tons of grapes by this yearend.

The Company is going to launch a wine distillery to a total cost of AMD156.4 million, with a daily capacity of 8,800 deciliters. The new unit will be fully operational by this October

Shahnazaryan Ltd is set to refurbish its maturation workshop, which will cost around 400 million drams in investments.

The Company looks forward to being granted a 3-year VAT holiday on equipment imported under the aforementioned investment program.

Note that Shahnazaryan Ltd paid out 92 million drams in taxes last year, with AMD65.63 million contributed in the 1st quarter of 2013.

The Company employs 64 staff with 172 thousand dram average salary.