From modernization of small hydropower plants up to export of organic food: Armenia-UAE Forum’s practical results
In addition to the memorandum signed on implementing 100 million USD investment program in the solar energy field as a result of Armenia-United Arab Emirates Investment Forum, three more memorandums were signed aimed at implementing hydropower and agricultural programs, the Development Foundation of Armenia told. In particular:
- Hydro Corporation group of companies and Estekshaf Investment Company signed a memorandum of understating aimed at making investments in renewable energy, mainly in hydropower field. It is expected to implement largescale and long-term programs in renewable energy field. The aim is to modernize small hydropower plants that have low productivity and heavy loan portfolio, as well as were constructed by violations of environmental norms.
- Tamara Fruit CJSC and Natural Organic Healthy Food (NOHF) signed a unique agreement over supplying organic food to 5-star and higher ranking hotels in 6 Arab states. The first group of goods is expected to be exported in the first 10 days of April, 2017.
- Armenia-UAE Business Union and Natural Organic Healthy Food (NOHF) signed a memorandum on opening organic food processing center in Armenia.
During the Investment Forum business meetings with the participation of representatives of up to 100 Armenian and Arab companies were held. A testing of Armenian products was held during which natural spring waters, organic juices, fruit drinks, fruit preserves, honey, chocolate, dried fruit, fresh fruits were presented.
