Euroterm to build new $5 million worth factory to process fruits and vegetables

ARMAVIR, January 13. /ARKA/. Armenian president Serzh Sargsyan on Friday travelled to Armavir province to attend a ceremony of laying the foundation stone for a new fruit and vegetable processing factory of Euroterm company (trading as Noyan). The company said it will invest more than $5 million in the factory that will be built in Vanand rural community on 130 hectares of land.

Euroterm founder and director, Edward Ghazarian, said the company has already invested $600,000. ‘The construction will cost $2.8 - $3.5 million and besides to ensure the operation of the plant we need to purchase working assets worth $1.5-$2 million," he said.

According to Ghazarian, the factory will produce 7,500 tons of fruit and vegetable concentrates per year and will comply with European standards due to high-quality equipment, quality products and favorable working conditions. He said the decision to build a new factory was prompted by growing demand for Noyan concentrates in Russia and Ukraine.

"Armenian concentrates distinguish by their taste, odor and organic qualities, but also have an advantage due to lower prices," he said.

According to him, the new factory will have capacity to process up to 180 tons of fruits per day. The new factory will produce also concentrates for babies, tomato paste and pepper.

Ghazarian said the equipment will be imported from Italy and Sweden, and in the first phase the plant will employ 50 people and 30 more in two years. 

Euroterm is one of the leading agricultural products processing companies in Armenia. In 1999 a joint Russian-Armenian company Euroterm signed a contract with Swedish company Tetra Pak for the supply of modern technological line for production of natural juices in Tetra Brik Aseptic packaging. -0-