Yeremyan Projects to build $31 million worth cattle breeding complex in Armenia’s Tashir

YEREVAN, October 10. /ARKA/. The Yeremyan Projects group of companies will invest $31mln in the construction of a large cattle breeding complex in the community of Tashir in the province of Lori.

The foundation laying stone ceremony on October 8 was attended by Yeremyan Projects CEO David Yeremyan, Economy Minister Vahan Kerobyan, the Director of Armenian Office at the Eurasian Development Bank (EDB) Armen Melkikyan, Tashir Community Head Edgar Arshakyan and Vice-Governor of Lori Gor Asryan, the Ministry of Economy said.

According to earlier reports, the EDB and Yeremyan Projects signed a Memo whereby EDB was to invest $25 million in this project.

According to Minister Kerobyan, such initiatives serve as an incentive for the development of the private sector. Kerobyan added that the total cost of this investment project is $31 million.

In his turn, Director of EDB Armenia Office Armen Melkikyan said that this project is one of the largest investments of the bank in Armenia.

"This is an exemplary project of trilateral cooperation between the government, business and the international bank," he said.

Melkikyan noted that this project will certainly give a strong push to the economy and territorial development of the province.

The Yeremyan Farm Cattle Breeding Complex will occupy 29 hectares of land. It will have farms for cattle and pigs, a slaughterhouse, a warehouse for fodder, a land plot for growing fodder crops, and a parking lot. The complex will be equipped with automatic systems and equipment in accordance with advanced production and quality standards. --0--