Agriculture, Agroindustry


UAE businessman establishes eastern bakery in Armenia
/Jan 30/Big News Network/PanArmenian.Net/

With the support of Business Armenia, Golden Bakery has established an eastern bread factory in Armenia.

The $225,000 foreign investment was made by Khalib Varha, a businessman from the United Arab Emirates.

Production started on Wednesday, January 30. Loshik (a type of flatbread), zatar, cheese, other types of bread, as well as Middle Eastern cookies will be baked and sent to trade points across Yerevan

“We will invest another $150,000 during the next 3 years. We also aim to export our bakery products to Georgia,’ noted Sevan Artin, the CEO of Golden Bakery.

During the investment process in Armenia, Golden Bakery collaborated with Rivera Capital Investment Company, which developed a business plan and a development strategy.

‘In addition to making mutually beneficial deals, we are also interested in increasing the wave of investment in Armenia,’ added Garen Mikirditsian, the founder of Rivera Capital.

Armenian government takes decision on subsidizing water and waste water removal cost
/Jan 31/ARKA/

YEREVAN – The government of Armenia has decided today to subsidize the cost of drinking water and waste water removal.
More precisely, the government will pay French Veolia Jur 11.4 drams per cubic meter of water.  As a result, in 2019, households will be paying 180 drams per cubic meter (including VAT).
Earlier, Veolia Jur had asked the Public Services Regulator Commission to allow it to raise the price of water from 191,414 drams per cubic meter to 205,125 drams. At a meeting in late November 2018, the PSRC decided to postpone the consideration of the application by Veolia Jur until 2025.
Veolia Jur CJSC (a subsidiary of the French Veolia Generale des Eaux) is the only national water distribution operator in the country. 
On January 1, 2017, Veolia Jur took over the management of all Armenian water distribution networks.  The company had earlier won an international tender announced by World Bank to take up a long-term management of the Yerevan network in 2006. It pledged to upgrade the obsolete network and ensure 24-hour water supplies to households.