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VTB BANK (ARMENIA) FINANCES GREENHOUSE CONSTRUCTION PROJECT OF MAVAS GROUP LLC
YEREVAN, January 18. /ARKA/. VTB Bank (Armenia) said Friday it had
allocated funds to MAVAS GROUP LLC for construction of a new greenhouse
where farmers will grow organic vegetables.
"Most of the greenhouse production will be for domestic consumption,
as a result the population will be provided with better quality food,"
the source stated.
"We attach great importance to promoting medium-sized business in
Armenia, and financing such projects will step up export-oriented
production,"
General Director - Chairman of the Board of Directors at VTB Bank
(Armenia) Yuri Gusev said in a statement.
It is the second time the bank has financed greenhouse sector,
according to him.
"We believe the number of such projects will be growing as Armenia
has quite considerable agricultural potential," Gusev added.
MAVAS Group LLC focuses on cargo transportation, lab testing,
greenhouse production, import and export and more.
In 2010 the company launched construction of a greenhouse farm in
Dzoraghbyur village of Kotayk region. In June 2011 the greenhouse
with a 1.6-hectare area was put into operation. The company was
also planning to expand the area of the greenhouses, and necessary
construction was underway.
At present, MAVAS Group owns a greenhouse farm of a 4.2-hectare area.
The greenhouse was constructed in association with Dutch Agrotech
Didame company which specializes in the development and improvement
of greenhouses and technical systems.
VTB Bank Armenia joined VTB Group in April 2004. VTB, the second
largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). It
has the largest branch network in the country - 68.It has the largest
branch network in the country - 67. -0--
YEREVAN, January 18. /ARKA/. VTB Bank (Armenia) said Friday it had
allocated funds to MAVAS GROUP LLC for construction of a new greenhouse
where farmers will grow organic vegetables.
"Most of the greenhouse production will be for domestic consumption,
as a result the population will be provided with better quality food,"
the source stated.
"We attach great importance to promoting medium-sized business in
Armenia, and financing such projects will step up export-oriented
production,"
General Director - Chairman of the Board of Directors at VTB Bank
(Armenia) Yuri Gusev said in a statement.
It is the second time the bank has financed greenhouse sector,
according to him.
"We believe the number of such projects will be growing as Armenia
has quite considerable agricultural potential," Gusev added.
MAVAS Group LLC focuses on cargo transportation, lab testing,
greenhouse production, import and export and more.
In 2010 the company launched construction of a greenhouse farm in
Dzoraghbyur village of Kotayk region. In June 2011 the greenhouse
with a 1.6-hectare area was put into operation. The company was
also planning to expand the area of the greenhouses, and necessary
construction was underway.
At present, MAVAS Group owns a greenhouse farm of a 4.2-hectare area.
The greenhouse was constructed in association with Dutch Agrotech
Didame company which specializes in the development and improvement
of greenhouses and technical systems.
VTB Bank Armenia joined VTB Group in April 2004. VTB, the second
largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). It
has the largest branch network in the country - 68.It has the largest
branch network in the country - 67. -0--