2024-03-16 00:54:26
“Entrepreneur+State” investment fund, a subsidiary of Armenia’s State Interest Fund (ANIF), is making a joint investment in a new project with “Eco Fresh” LLC.
“Eco Fresh” company is one of the leading companies in Armenia producing champignon mushrooms. The product is sold in Armenia and the United Arab Emirates. Previously, the compost for growing mushrooms was mainly imported from the Netherlands, which significantly increased the cost of the product and reduced its efficiency. With a joint project, the company plans to establish a compost plant necessary for growing mushrooms in Armenia, with an initial productivity of 50-60 tons per week.
The total cost of the investment project is more than 894 million drams, of which about 287 million drams is the investment of the “Entrepreneur + State” investment fund.
Director of ANIF “Entrepreneur + state” investment fund Bella Manukyan noted. “The Fund, emphasizing the continuous development of the agricultural sector of Armenia, is implementing the second investment program in the sector in the direction of effective use of new technologies. Armenia has the opportunity to increase its presence in dynamically changing international markets, and this program is another step towards increasing the competitiveness of our products.”
According to Tiran Hakobyan, owner of “Eco Fresh” company. “The willingness of the state to invest in business and contribute to the introduction of new technologies is more than appreciated. We will solve several important problems with the joint program with ANIF. we will import new Dutch technologies in this field by building a new factory, which will allow us to obtain competitive products for sale in the local and export markets. If the project is successful, we will further increase production volumes to attract new markets, creating new jobs and with the effect of volume, we will further reduce the cost of products.”