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Armenian grower invests in rose growing

  • Armenian grower invests in rose growing

    by market insider

    Monday, 09 Nov. 2015

    Armenian Harvest, a company specializing now in growing tomatoes and cucumbers, will be producing 5.2 million US$ worth of Dutch roses a year; Karen Chshmarityan, Armenia’s Minister of Economy, told a Cabinet session.
    The Minister said the company is bringing in new equipment for the cultivation of Dutch rose plans to produce 2.5 billion drams (476.32 drams = US$ 1) worth of roses a year.

    The government awarded the company a three-year postponement of VAT payment, after pledging to import equipment worth more than 300 million drams. The deferment is awarded to companies that import more than 300 million drams worth modern equipment or technology to expand their output and modernize production facilities.

    Armenian Harvest, located in the central Kotayk region, is planning to invest in the greenhouses 1.637 billion drams (3.3 million $). Of that amount, 1.337 billion drams will be spent on purchase of equipment for the production of Dutch roses.

    The bulk of flowers is supposed to be exported to Russia, Georgia, Belarus, Kazakhstan and other countries. The greenhouses occupying 11 hectares of land employ 90 workers. To build the greenhouses Armenian Harvest used the technology of the French company Richel Group.

    Earlier this year, Ecotomato Company, under support from VTB Bank (Armenia), has opened a new greenhouse for growing Dutch roses. Armenian President Serzh Sargsyan attended the opening ceremony.

    Ecotomato, founded in 2011, is engaged in growing Dutch roses in a two- hectare greenhouse, however, due to the growing demand for flowers both at home and abroad, the company decided to build more greenhouses. It has built greenhouses jointly with Dutch Dalsem. See also a news article on Armenia's rose production in Market Dynamics.

    Sources:  ARKA news agency

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