February 15, 2019 - 12:18 AMT
Armenian businessman will build meat processing plant in Moscow

Elitgroup will build a large industrial complex in Moscow. The investment contract was signed by the Mayor of the Russian capital Sergey Sobyanin and the owner of the company, Armenian businessman Kamo Avagumyan at the Russian Investment Forum in Sochi.

The company has been given a land plot of more than 3.1 hectares in the Western Administrative District. In December 2018, the project was given the status of an investment priority project, Moskva24 reports.

Initial investment in the project is estimated at 1.2 billion rubles (approx. $18 million). Construction will be completed by the end of 2022. The complex will cover an area of 28 thousand square meters, while the production will create more than 450 jobs.

The enterprise will specialize in the production of semi-finished meat products. Production must comply with the most stringent environmental requirements, including the installation of modern sewage treatment plants.

Elitgroup Holding was established in 1998 and is currently one of the largest enterprises in the wholesale trade of food.