A new wine factory opened in Armenia, which is situated about 70 km far from Yerevan. The factory is supposed to produce 300,000 liters of product annually.
The production is intended to reach up to 1 million liters annually in the coming years. The investor of the business is “Tierras de Armenia” CJSC, which is registered in the Republic of Armenia and engages in the development of a large vineyard, where it produces drop-irrigation grapevines and high-quality grapes for elaboration of premium drinks.
The factory will use the grapes from own vineyards in Armenian, French, Italian and Argentinean types of the grape.To note, the company is engaged in the exploitation of over 2,300 ha of land in Armenia’s Armavir region, out of which 500 vineyards are under irrigation, which the company sells mainly to brandy factory.
The overall investments in the factory made $40 million, while the owner of the company is Argentinean-Armenian Eduardo Eurnekian.The land has the latest technology for grapevines growing and for irrigation, to this aim the company also built a 9 million cubic meter water reservoir. After carrying out agronomic research on soil, irrigation water, climate and topography, and extensive market research, a 15-year development plan was devised with the aim of using at least 80% of the land for fruit growing and the remaining for infrastructure.