Wine-making development in Armenia needs around Euro 150 million investments

PanARMENIAN.Net - Wine-making development in Armenia needs around Euro 150 million investments, Avag Harutyunyan, head of Armenian wine makers union told PanARMENIAN.Net reporter. "Outdated technologies are being used in Armenia for wine production," he said.



In this context, wine makers union head added that Euro 3-4 million investments are required for technological equipment of a factory with 300 000 bottles' annual production capacity. "Around 50 high technology factories are necessary for Armenia to gain competitiveness in world market within 5-6 years," Avag Harutyunyan explained.



Commenting on the possibility of consortium creation, prompted by Italian wine makers' development example, Avag Harutyunyan noted, "The idea is a useful one. Still, in the first place, our wine makers need quality equipment, which is a priority task at the moment".