The Armenian company Spayka, through its subsidiary Armsunproduct, has been allowed permission to import their greenhouse & greenhouse equipment exempt from custom duties. The company plans to invest 42 billion 680 million AMD, meaning over 77 million euros, in their greenhouse expansion project.
The Armenian government is supporting the development of the greenhouse industry by cutting down the import taxes on greenhouse equipment.
Tigran Khachatryan, Minister of Economic Development and Investments ,said the equipment will be used to build the greenhouse that is expected to employ as many as 700 people.
Earlier this year the plans were revealed for a complex involving an acreage of 110 hectare semi-closed greenhouse in the Noragavit district.
The company wants to grow produce worth 16 billion drams, about 29 million euro, in the first year of operation and export most of it to the Eurasian Economic Union and the rest to other countries.