Thursday, July 12 2012 20:28
Yuri Gusev: Armenian market has large business projects that need co-financing
ArmInfo. VTB Bank (Armenia) has launched a three-year strategic project on development of greenhouse facilities and construction of new hothouses in Armenia, Yuri Gusev, Acting Director General-Chairman of Directorate of the VTB Bank (Armenia), told journalists on Thursday. The project is estimated at $80 mln.
He said that under this project co-financed by the VTB Bank (Armenia) and Ardshininvestbank, "ECOTOMATO" company has been provided with a loan worth $7 mln for construction of a new flower hothouse and acquisition of the relevant equipment from "Dalsem" company (The Netherlands). In particular, $4 mln has been provided by VTB Bank (Armenia) and $3 mln - by Ardshininvestbank.
"Actually, this is the first transaction of VTB Bank (Armenia), where two commercial banks have joined their efforts to ensure large-scale and successful co-financing of a company's business project. As you know, the Armenian market has large business projects that need much financing, which cannot be ensured by one bank", Gusev said.
He added that the project on development of greenhouse facilities and construction of new hothouses in Armenia has become strategic for VTB Bank (Armenia), and at the moment several projects, including the one with "Dalsem" company, are being considered within the frames of the project. "The projects will be aimed at financing of not only flower hothouse facilities, but also hothouse cultivation of agricultural crops. Mostly export-oriented enterprises are subject to financing, and this is one of the key tasks of VTB Bank (Armenia)", Gusev said. For his part, Director of "ECOTOMATO" CJSC Arsen Sandoyan said that the new hothouse in Goght village, Kotayk region, occupies an area of 3 hectares, and the area of the current hothouse is 2 ha.
"The decision to build a new highly technological hothouse is conditioned by the constantly growing demand for flowers both in Armenia and outside it. The construction of the new hothouse will allow increasing the output 2.5 times to 6-7 mln roses per year", Sandoyan said. He added that the hothouse will be launched in September 2012. At present the company is growing 9 species of roses, of which the following roses are in big demand: White Naomi, Penny Lane, Red Naomi, Sweet Dolomiti. Next year the company is going grow 25 species of roses.
"ECOTOMATO" CJSC was founded in 2011. The company cultivates breeds and exports roses to the CIS countries, Georgia, as well as to European countries. The company has high-skilled Dutch specialists. The company is going to invest 10 bln AMD in cultivation of roses in Armenia by 2015.
Dalsem Horticultural Projects BV is an international family owned company with over 75 years of experience in the horticultural industry. It manufactures and supplies complete glass and poly greenhouse and mushroom projects.
To note, VTB Bank (Armenia) became a member of the international VTB Group in April 2004. The sole shareholder of the Bank is VTB Bank OJSC, the second largest bank of Russia. At the moment VTB Bank (Armenia) has the largest branch network in the country (68 branches).
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