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Official News

Friday, 6 September 2013

PM Monitors Government-Supported Investment Program In Aragatsotni Marz

Accompanied by Minister of Agriculture Sergo Karapetyan, Prime Minister Tigran Sargsyan visited today Aragatsotni Marz-registered Golden Grape Armas Ltd, which is engaged in farming activities.

Since 2007, vineyards have been set up on an area of more than 160 hectares, with 400 thousand grapevines planted, including wine and brandy sorts, as well as table grape varieties. 40 hectares are orchards (10 thousand trees, including peach, plum, apple, apricot, cherry trees etc).

Tigran Sargsyan toured the orchards watching the ongoing activities.

In 2010, the Company was granted a 3-year VAT holiday for goods and equipment imported under its ongoing investment program to a total cost of over AMD300mn.

Investment to a total cost of euro15mn has been made since 2007. The Company has now shifted from grape cultivation to grape processing. The bulk of investment (about 7 million euro) was spent to build a wine and brandy factory starting 2010.

Proceeding to grape procurement last September, the newly built factory got grapes from both its own vineyards (325 tons) and different communities, including Kosh, Agarak, Voskevaz, New Edessa, Sasunik, Aragatsotn, Shamiram (500 tons). Areni grape varieties have been procured from Yeghegnadzor region (50 tons). Procurements may reach the mark of 3-6 thousand tons over the next few years.

The plant is equipped with Granzotto Italian Company’s latest equipment. State-of-the-art farming and building machinery to a total cost of USD1mn has been imported from the United States.

Wine bottling work has started and “ArmAs” brand name - red, white and pink wines - is already out on the domestic market. 3 years later the first brandy will be presented to the consumer.The output is due to be realized not only in domestic market, but also overseas, including the U.S. , Europe, Russia and Ukraine.

Vineyards and orchards are also contributing to the development of Aragatsotni Marz as a whole for the company is employing people from the surrounding villages. Hundreds of farmers can now cultivate their land with the confidence that new plant will buy the crop.

Over 150 people – both permanent and seasonal workers - are currently employed in the Company with an average salary of AMD100.000.

Golden Grape Armas Ltd has initiated agro tourism development projects. A hotel complex is up, ready for commissioning. Visitors will be able to tour the vineyards, visit the winery and brandy units where they will see firsthand the distilling process and learn the history and culture of wine and brandy making art.

May 2020