EDUARDO ERNEKIAN INVESTS IN ARMENIA’S AGRICULTURAL SPHERE
YEREVAN, December 21 (Noyan Tapan). On December 21, at Zvartnots
Airport Director of the Tiera de Armeni company Anna-Christina
Shirinian and shareholder of Max Group Khachik Manukian signed an
agreement on joint activities. According to the agreement, at least
1,600-1,700 hectares of apricot orchards, 200-300 hectares of peach
and plum orchards and 500 hectares of grapevines are to be planted
in the area of 6 thousand hectares (3 thousand ha was sold to Tiera
de Armeni) located near the settlement of Baghramian (Armavir marz)
and belonging to Max Group. According to Khachik Manukian, it is
envisaged to start the construction of a fruit processing plant
with a processing capacity of 40 thousand tons of fruit per year at
the end of 2005. The harvest is expected in 5 years, meanwhile 20-25
million dollars will be invested. Tiera de Armeni, which was recently
registered in Armenia, is owned by Eduardo Ernekian. The American
International Airports company also belonging to the multimillioner
from Argentina implements the management of Yerevan’s Zvartnots
Airport. Max Group, one of Armenia’s big multiprofile companies,
has 15 thousand 200 hectares of land in the country’s various
marzes. Its shareholders are Khachik Manukian, Harutyun Pambukian
(both deputies of the NA) and Mher Bagratian. Kh. Manukian also stated
the two sides will make equal in amount investments, the Argentinian
side will implement the management of the business and the Armenian
side will carry out the agricultural work. The Airport lawyer Armen
Ter-Tachatian announced that profit made by Tiera de Armeni will
not have a commercial significance, it will go to a special fund
established by Ernekian and used to develop the agriculture.