Yeremyan Projects inaugurates a unique agro-industrial complex in the Tashir community with the EDB’s financial support

30 October 2023

Yerevan, 30 October 2023. On 28 October 2003, Yeremyan Projects launched its first world-class agro-industrial complex in Armenia’s Tashir community, Lori Region. The Eurasian Development Bank (EDB) provided US $32 million for this project.

The inauguration ceremony was attended by representatives from the Armenian government, the EDB, partner organizations, and the Yeremyan Projects team.

This project is the first milestone in implementing the trilateral memorandum signed in August 2022 between the Armenian government, the EDB and Yeremyan Farm, with the goal of advancing food security and sustainable economic development in Armenia.

The agro-industrial complex is designed as a vertically integrated enterprise, ensuring the supply of high-quality dairy and meat products for Yeremyan Projects’ food production facilities.

The total budget for this project amounted to US $43.5 million. These funds were employed to secure 300 hectares of arable land in the Tashir community, where a state-of-the-art livestock breeding complex was built and equipped on 32 hectares over a span of 14 months. The construction phase generated additional employment opportunities for residents of the Lori Region, with 120 jobs to be created upon commissioning. The employees will enjoy comfortable facilities, including recreational areas, that meet high standards. The complex also includes training facilities and conference rooms.

The agro-industrial complex with a daily capacity of 45,000 litres of milk is designed to accommodate 1,500 cattle. It comprises a barn with two livestock buildings. Equipped with state-of-the-art technology, including a rotary milking parlour, a fodder mill, and fodder storage, the complex is optimised for high performance.

Part of this complex is a pig farm designed to house 580–600 sows, enabling the production of up to 17,000 animals annually.

Simultaneously, the construction of a dairy and meat product processing plant in Yerevan is in its final stages, involving equipment installation and the completion of auxiliary premises.
The investment programme is being implemented with support from the Armenian government, which partially subsidised investment costs as part of its programme to support investment projects in the country’s livestock sector.

“The Government of Armenia is dedicated to supporting large-scale investment projects aimed at enhancing food security and sustainable agribusiness development. It is especially pleasant when such programmes are part of ‘public-private’ cooperation. On behalf of the Ministry of Economy, I express our commitment to support such large-scale initiatives to the maximum extent possible. I am confident that such a farm, equipped with high-quality cutting-edge machinery, will serve as a good example of high-productive agriculture for large and small farms,” said Vahan Kerobyan, Armenia’s Minister of Economy.


“This initiative by Yeremyan Projects is a significant contribution to food security and agribusiness development, and we are pleased to participate in it. The EDB is paying special attention to projects in Armenia in this strategy period. Over the past year, in addition to agribusiness, we have managed to boost our portfolio in important sectors such as energy and manufacturing. Since Armenia joined the Bank in 2009, the EDB has implemented 24 projects in the country, totalling approximately US $506 million. This includes six initiatives worth US $127 million during 2022 and 2023,” stated Nikolai Podguzov, Chairman of the EDB Management Board.

David Yeremyan emphasised the unprecedented nature of this project for Armenia.

“As part of this project, Yeremyan Projects is investing in Armenia’s two regions by building a state-of-the-art milk processing plant in Yerevan and a livestock breeding complex in the Tashir community of the Lori Region. I’ve always said that this initiative is a matter of honour for myself and Yeremyan Projects, and I am happy and proud that we have accomplished this task and are presenting today a livestock breeding complex, which is unique for both Armenia and the entire region. With this project, we are also making a significant commitment to introduce a new culture of modern livestock and dairy production and a culture of dairy consumption in Armenia. Today, when we have a modern farm of such a scale and quality, which is equipped with cutting-edge equipment and technology thanks to the project, we can confidently state that we have fully realised our objective. This approach to farming primarily addresses food security, which was one of our goals,” he commented.


In late 2021, the EDB approved its 2022–2026 Country Strategy for Armenia. One of its priorities is to ensure food security by increasing agricultural productivity, reducing dependence on agricultural imports and developing the Eurasian Commodity Distribution Network mega-project to bolster food logistics and trade for small and medium-sized enterprises.


The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For more than 17 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.


Yeremyan Projects Group stands as a leader in Armenia’s catering, restaurant, service, vocational education, agriculture and food production sectors. Over the past 17 years, the company has created and implemented more than a dozen ambitious and unique projects, significantly contributing to the restaurant industry and agriculture in Armenia. Since 2019, the company has embarked on a closed-loop business development strategy based on the From Seed to Table concept, opening a pedigree cattle farm in Vayots Dzor, a pig farm in the Tavush Region, a fodder mill in the Ararat Region, and the Artsakh kitchen-factory in Yerevan.

Yeremyan Projects Group encompasses renowned restaurant brands such as Renome, Burgeri, Casa Nostra, Livingston, Lavash, Sherep, Smoking Chef, the Taverna Yerevan restaurant chain, Taverna Yerevan Riverside, and the Yerevan Shawarma fast food chain. The group also comprises the Yeremyan Academy of Culinary Arts and Hospitality, Yeremyan Delivery, the Yeremyan Products food factory, and Yeremyan Farm, overseeing all agricultural projects.

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