Armswissbank financed the modernization of Arzni breeding poultry  farm and the launch of a solar power plant

ArmInfo.Armswissbank financed the modernization of the Arzni pedigree poultry farm and the launch of a solar power plant. As ArmInfo was told in the press service of  Armswissbank, over 670 million AMD has been invested in the  re-equipment of the poultry farm and the construction of a solar  power plant.

In addition to its own funds, the company also used a  number of preferential credit programs.

The opening ceremony of the Arzni poultry farm re-equipped with new  technological solutions and the commissioned solar power plant took  place on December 25 this year, with the participation of a partner  bank representative, RA Minister of Economy, Deputy Governor of  Kotayk Region and a number of entrepreneurs.

The project of re-equipment of the poultry farm was financed by  Armswissbank within the framework of the program "State support for  the acquisition of equipment for leasing in the agri-food sector of  Armenia", due to which the state fully subsidizes (100%) the  company's interest expenses.  The solar power plant project was  funded by the GEFF 2019 program of the European Bank for  Reconstruction and Development (EBRD). The capacity of the solar  power plant is 650 kW / h, with an annual production of 1,120,000 kW  of clean electricity, which provides cost savings of about 50 million  AMD per year. As a result, annual emissions of carbon dioxide into  the atmosphere are reduced by almost 272 tons.

The operation of a solar power plant also has a significant impact on  saving energy costs and reducing the cost of the company's products,  providing power to production processes from its own electricity. The  solar power plant was designed and installed by Multi Solar, and the  actual volume of electricity generated in 2020 exceeded the target by  4%.

Director of Arzni breeding poultry farm Gevorg Janvelyan during the  event presented the re-equipped poultry farms and the impact of  modernization on production processes. "Thanks to the automation of  production processes and the use of energy-saving technologies, we  save significant costs. Automatic bird feeding has significantly  reduced feed costs and dramatically reduced product losses. We have  ensured an incomparably high level of quality management. We are  already getting clean and safe products," he said.  "Thanks to the  re-equipment, the number of birds has sharply increased - from 22  thousand to 70 thousand.  Reducing the cost of production will allow  us to develop our export opportunities and re-enter the Georgian  market in a short time. As for the commissioned solar power plant, I  must emphasize that it provides us energy independence and recorded  results better than expected. The implementation of these programs  became possible as a result of multilateral, effective and flexible  cooperation with Armswissbank, "said Gegham Janvelyan, owner of the  Arzni poultry farm.

"The cooperation between the company and the bank started in 2009 and  the projects of re-equipment of the poultry farm and the construction  of a solar power plant are the result of effective and intensive  joint work. We are confident that the cooperation formed between the  company and the bank will be long-term," said Grigor Hovhannisyan,  Deputy Executive Director of Armswissbank.  "We need modern and  efficient production facilities that will be competitive not only in  Armenia, but also abroad. One of the best examples of this is the  modernized Arzni breeding poultry farm equipped with its own solar  power plant," the RA Minister of Economy emphasized.

It should be noted that "Arzni" OJSC "pedigree poultry farm, cattle  and pig farm" was founded in 1997.  The main production facilities of  the company are concentrated in the village Arzni. Thanks to many  years of experience and high-tech equipment, the company offers the  end consumer a wide range of environmentally friendly and  high-quality eggs, meat products (chicken, beef, pork) and dairy  products, and is one of the leaders in this industry.

To recall, "Armswissbank" CJSC was established on October 7, 2004.  Being a dynamically developing financial structure, the Bank operates  in the field of corporate and investment banking services, offering  both traditional and the latest financial solutions adopted in the  international banking system. One of the bank's strategic directions  is financing renewable energy projects, including solar power plants,  energy efficiency and modern agricultural projects. As of October 1,  2020, the holder of 87.53% of the stake in Armswissbank is "HVS  Holding" LLC (managed by Vartan Sirmakes and registered in  Luxembourg), while the remaining 12.47% are owned by FMTM  Distribution Ltd, and Vartan Sirmakes and Chrono Star International  Participations Group Franck Muller Sarl are indirect shareholder.