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Official News

Saturday, 27 September 2014

PM Gets Acquainted with Investment Program in Aragatsotn Marz

Prime Minister Hovik Abrahamyan visited Golden Grape farming company in Aragatsotn province. The company has been cultivating vineyards on over 200 hectares of land since 2007. Wine, brandy and table grape varieties are being developed, with 40 hectares of land reserved to orchards (peach, plum, apple, apricot, cherry, etc.)

Hovik Abrahamyan toured the plantations getting acquainted with the ongoing activities and the future plans.

Total investment amounted to 15 million euros, of which 7 million was spent to build a new wine and brandy factory, which was commissioned in 2010. The factory has a purveyance capacity of up to 1000 tons of grapes annually. 790 tons of grapes were obtained from the company’s own vineyards in 2013. This figure may reach the mark of 800 tons in 2014.

In the period from 2010 to 2013, the company benefited from the State’s support tools, including a 3-year VAT holiday for imported equipment. Besides, the Armenian Development Agency co-financed 50% of the costs for participation in Duseldorf’s ProVeyn annual exhibition and wine presentation at the Decanter World Wine Awards in England.

The company is going to set up a livestock farm. Golden Grape has initiated the implementation of agribusiness development programs.

Welcoming the company’s investment programs, Hovik Abrahamyan reassured of his government’s readiness to support them in a bid to develop agriculture and create new jobs.

August 2020