Launch of sugar plant in Armenia in may 2010 will provide the consumption of sugar in the country –ministry of agriculture

YEREVAN, December 7. /ARKA/. “New sugar plant in Akhuryan will launch in May 2010 and provide the whole consumption of sugar in Armenia”, said Gerasim Alaverdyan, Minister of Agriculture of Armenia in the frames of the visit of the President of Armenia Serzh Sargsyan to the plant.

“It is very important plant which will cover the consumption of sugar of Armenia. Currently it makes 90 thousand tons annually and will work on the basis of foreign and local raw material”, said the Minister. For full functioning of the plant it is envisaged to allocate 5000 ha of land for sugar beet. He mentioned that the plant will have 1000 employees.

Edik Sargsyan, Director of the plant said that production of the plant will also be exported to Georgia, North regions of Iran and Russia. If the plant works in full capacity, it will produce 220 thousand tons of white sugar of European quality annually.

The raw material for the plant will be imported from South America, mainly from Brazil, as well as produced locally which will allow to provide 20 thousand local employees with work. In May the first production will be produced and its price will be lower than imported sugar but he could not mention the exact price. Construction of the plant in Akhuryan was started in 2006. Owner of the plant is Samvel Aleksanyan, Armenian entrepreneur, Deputy of National Assembly of Armenia who has monopolistic positions in the market of sugar import in Armenia. Investments for the construction of the plant will make $90-92 million.

For finalization of the scheme of local sugar beet additional $8-10 million is needed. -0-