Armenia to get $5M rose greenhouse investment

Roselin by KOK LLC is set to establish a state-of-the-art greenhouse complex in the Akunk community of Armenia’s Kotayk Province, utilizing imported materials to cultivate roses.

By a government decision, the company will receive an exemption from import customs duties as part of an investment initiative in a priority sector.

This program outlines investments of 1.45 billion drams for the greenhouse acquisition, 180 million drams for raw materials, and 300 million drams for construction.

The roses are intended for sale both domestically and internationally, especially in Russia.

The investment initiative aims to generate 30 new jobs by 2028. The customs duty exemption is valued at 81.5 million drams. All in all, the project is valued at 1.93 billion drams, or $5 million.

Source: Arka News Agency