YEREVAN. – A new wine factory opened in Armenia. The factory will produce 300,000 liters of production annually. 

The production is intended to reach up to 1 million liters annually in the coming years, the investor, “Tierras de Armenia” C J.S.C. Company, informed Armenian News-NEWS.am. The factory will use the grapes from own vineyards in Armenian, French, Italian and Argentinean types of the grape. Investments in the factory made $3 million.

To note, the company is engaged in the exploitation of over 2,300 ha of land in Armenia’s Armavir region, out of which 500 vineyards are under irrigation, which the company sells mainly to brandy factory. The overall investments in the factory made $40 million, while the owner of the company is Argentinean-Armenian Eduardo Eurnekian.