Armenian National Interests Fund (ANIF) said today its subsidiary “Entrepreneur + State” Investments Fund is launching a new investment project jointly with the “K&G” company.
The joint project “Berrymount” company will start large-scale production of strawberries for export. The partner company “K&G” was founded in 2015 and already has two greenhouses with a total area of 6 hectare. The third greenhouse will be built as a result of the implementation of a joint project of ANIF with the “Entrepreneur + State” investment fund.
The company exports almost all of its products. Greenhouse equipment is supplied by the French company “Richel”, which is one of the leaders in the industry. Strawberries are grown hydroponically without pesticides and chemical treatments.
The new greenhouse, which will be built as a result of ANIF’s investment, will double the company’s waste collection capacity. Investments of the “Entrepreneur + State” fund is amount to 960 million AMD.
Director of the Entrepreneur + State investment fund Bella Manukyan, commented: “Our joint investment in Berrymount with a well-established company provides an opportunity to increase the export of Armenian agricultural products and expand our export market. It is especially important for us that the company we have partnered with has many years of successful experience in this area.”
According to Dmitry Alekseenko, founder and director of the partner company K&G, ANIF’s investment will help the company implement the company’s expansion strategy. “We consider this cooperation not just a government support for business, but also a joint efficient and viable business investment for both our company and ANIF. Demand for quality agricultural products is growing and Armenia’s competitiveness in this sphere has great potential for growth.” The construction of the greenhouse is scheduled to be completed in August 2023.