Spayka, the largest international freight forwarding company in Armenia, is planning to invest some $56 million to create apple orchards and build a warehouse in North Ossetia, General Manager Davit Ghazaryan said at a meeting with North Ossetian leader Vyacheslav Bitarov.

"We have extensive experience in greenhouse production in Armenia and the Russian regions alike," Ghazaryan said.

"We possess modern, controlled-atmosphere refrigeration complexes, where fruit can be stored for a longer-than-usual period of time."

According to Ghazaryan, the new project will enable the company to ensure 300 permanent jobs, while 700 more people will be hired in harvest time.

The investment of some 3,5 million rubles ($56 million) will yield a multiplicative effect, he said, adding that the company is waiting for North Ossetia's support.

Bitarov described the project as global, assuring that North Ossetia will create every condition for implementing it.