YEREVAN, March 17. /ARKA/. VTB Bank (Armenia) said today it has opened a credit line to the tune of 130 million drams for a period of three years to Mac Fish LLC, one of the largest fish-breeding enterprises in Armenia.
The credit line will allow the company to increase production capacity and expand the range of fish products.
“VTB Bank (Armenia) has been successfully cooperating with the Mac Fish companies for 9 years, providing a full range of financial services that allow the company to successfully develop. Supporting the real sector of the economy is a priority of our bank. The new cooperation will serve as a drive for the growth of our clients’ business, the fishing industry in Armenia, in particular, and ensure a wide access to the export markets,” said Ara Avagyan, Corporate Business Development Director at VTB Bank (Armenia) CJSC.
Sergey Davtyan, director and founder of Mac Fish LLC, in turn, said that thanks to the support of the key financial partner, the company was able to implement a business development plan.
“We managed not only to increase production and expand the range of our products, but also significantly improve the quality of local fish products, make our brand recognizable both in the local and foreign markets,” said Davtyan.
Mac Fish LLC is part of the Max Fish group of companies – one of the largest fish farms in Armenia, engaged in breeding and reproduction of sturgeon, salmon, trout and other fish products, as well as in fish and seafood trading.
Most of its finished products are exported and are in great demand in Russia. The company owns pools for artificial fish breeding in several villages of the Ararat region, with a total area of about 14 hectares capable of holding about 2,250 tons of fish at the same time.
The activities of VTB Bank (Armenia) CJSC are regulated by the Central Bank of the Republic of Armenia ($1 – 499.04 drams). -0-
