News - Armenia's Poultry Expansion: $250M Investment Sparks Job Growth

In a landmark development for Armenia's agricultural sector, a significant $250 million investment is set to transform the 'Shirak' poultry farm. Aimed at producing approximately 100 tons of poultry meat and between 15-20 tons of pork daily, this expansion will also create 2,500 new jobs within the region. As reported by the Ministry of Economy, led by Minister Gevorg Papoyan, the development is already underway with over $60 million invested. Key stakeholders, including company owner Narek Nalbandyan and director Hayk Matevosyan, have highlighted the project's strategic importance in meeting the country's internal poultry demands and bolstering exports. Situated on 420 hectares across Shirak and Kotayk regions, the project promises substantial local employment. Currently, 300 jobs have been created in Shirak and 350 in Kotayk, aligning with the plan to establish a total of 2,500 positions. Additionally, the farm already produces 400,000 eggs daily, indicating its potential to enhance domestic food security and economic stability. Moreover, the company has committed $25 million towards constructing a major feed plant, set to become one of the largest in the region. This move not only underscores the company's role in the local economy but also its capacity for regional influence. This expansion signals a pivotal shift in Armenia's agribusiness landscape, potentially setting the stage for increased exports and sustained industrial growth.