Tamara Fruit (Armenia) gets $3.4mln budget guarantee
12.02.2009,
22:05
At its sitting today the RA Government decided to provide a $3.4mln budget guarantee to the Tamara Fruit Company.
YEREVAN, February 12. /ARKA/. At its sitting today the RA Government decided to provide a $3.4mln budget guarantee to the Tamara Fruit Company.
RA minister of Economy Nerses Yeritsyan stated that the guarantee will enable the company to continue its operation and purchase raw materials from Armenian farmers.
“We held long negotiations with the bank serving Tamara Fruit and determined the amount,” the Minister said.
The Tamara Fruit CJSC was founded in Armenia in 2002. The company produces frozen fruit and vegetables as well as juices, jams, canned vegetables.
The Minister pointed out that the budget guarantee will enable the company to create 120 jobs, purchase about 3,000 tons of raw materials and ensure 8.6-8.8bln AMD exports, with over 70% to be the share of Russia and the European Union (EU). Yeritsyan pointed out that an international auditing firm will make audits of the company from next year on.
The measures are a logical step to overcome the crisis and are supposed to greatly contribute to the company’s development, the Minister said.
RA Prime Minister Tigran Sargsyan pointed out that this step opens a new chapter in the Government’s cooperation with the private sector. He said that this is the first program of government assistance to successful private enterprises.
The Premier pointed out that this mechanism opens up new opportunities for the Tamara Fruit Company, which has international certificates allowing it to export its products.
“This is the first decision of this type made by the Government, as we are establishing a new tradition in the Government’s cooperation with the private sector, which is supposed to become one of the anti-crisis factors,” the Premier said.
The RA Government also approved the Tamara Fruit CJSC’s program of laying out organic gardens – the planting of 450,000 seedlings of blackberries, black currant, as well as selection work at 3,000sq meters. Under the program the first year’s yield is to reach four tons per hectare, the second and third years 10 tons and 12 tons per hectare respectively.–0--
RA minister of Economy Nerses Yeritsyan stated that the guarantee will enable the company to continue its operation and purchase raw materials from Armenian farmers.
“We held long negotiations with the bank serving Tamara Fruit and determined the amount,” the Minister said.
The Tamara Fruit CJSC was founded in Armenia in 2002. The company produces frozen fruit and vegetables as well as juices, jams, canned vegetables.
The Minister pointed out that the budget guarantee will enable the company to create 120 jobs, purchase about 3,000 tons of raw materials and ensure 8.6-8.8bln AMD exports, with over 70% to be the share of Russia and the European Union (EU). Yeritsyan pointed out that an international auditing firm will make audits of the company from next year on.
The measures are a logical step to overcome the crisis and are supposed to greatly contribute to the company’s development, the Minister said.
RA Prime Minister Tigran Sargsyan pointed out that this step opens a new chapter in the Government’s cooperation with the private sector. He said that this is the first program of government assistance to successful private enterprises.
The Premier pointed out that this mechanism opens up new opportunities for the Tamara Fruit Company, which has international certificates allowing it to export its products.
“This is the first decision of this type made by the Government, as we are establishing a new tradition in the Government’s cooperation with the private sector, which is supposed to become one of the anti-crisis factors,” the Premier said.
The RA Government also approved the Tamara Fruit CJSC’s program of laying out organic gardens – the planting of 450,000 seedlings of blackberries, black currant, as well as selection work at 3,000sq meters. Under the program the first year’s yield is to reach four tons per hectare, the second and third years 10 tons and 12 tons per hectare respectively.–0--
