YEREVAN.- President of Armenia Serzh Sargsyan visited on Friday food and vegetable processing factory which is under construction in Armenia’s Armavir region.

Eduard Ghazaryan, director of the Euroterm company investing in the factory, told journalists that the project will attract credit funds amounting at $3.5 million. The factory opening this summer will employ 50 people.

The plant will produce concentrates for baby fruit puree, tomato and red pepper paste. Annual volume of production will reach 765,000 tons, most of which will be exported.

Euroterm company is producing fruit and vegetable products under Noyan brand. Investments in the company’s production made approximately $6.6 million in 1998-2005.