France Armenia Agreemen’s Signed

YEREVAN (Lragir)Negotiations for two joint ventures between Armenia and France were recently completed in Paris.

The agreement between the French BJI (Kastel Group) and the Armenian Sil Group–which calls for an $18 million investment from the French in Armenia’s private sector–will target two marketsmineral water and soft drinks–as well as beer and alcoholic beverages.

Baghdon Antoin–a representative of the Kastel Group–explained that his group is very interested in this particular market in Armenia.

According to Antoin–the complex mode of investment selected will require a great deal of planning and detailed implementation–but the final returns will be large. Production procedures will correspond to international business standards.

An estimated 120 million bottles of beer will be produced each year. "We expect not only to meet the deman’s of the local market–but also export beer," declared the French representative–"and we have placed trust in Armenia’s–in their knowledge and their ability to export and to market the products"

"Our experience shows that through hard and well calculated work it is possible to attract foreign investmen’s," said Khachatour Sukiasian–the head of the Sil Group–"we have numerous partners abroad–and our business achievemen’s are a result of trust and successful work with them."

Kastel Group was created in 1949 and is one of the largest exporters of wine in the international market. It owns a network of 350 wine shops–600 hectares (1500 acres) of vineyards. BJI has beer and mineral water plants in 15 countries of the world.

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