Armenia to launch region’s largest chocolate factory

Armenia is preparing to launch the largest chocolate manufacturing facility in the region, according to an announcement by Economy Minister Gevork Papoyan.

According to Armenian media, Papoyan said on social media that he visited the construction site on January 20 and outlined the scope of the project, which is being developed by Wellar Group, a company with Swedish capital that already operates a confectionery factory in Yerevan. The investor plans to commit a total of €145 million to the project and create around 2,000 new jobs.

Most of the construction has already been completed, with €120 million invested so far. The factory is expected to be fully commissioned within three years, after which daily production is projected to reach 200 tonnes.

The minister added that the company made use of government support measures, including exemptions from customs duties on imported equipment and subsidies for the construction of production infrastructure.

Papoyan also noted that Armenia exported confectionery products worth more than $20 million in 2024. Of that total, more than $12 million went to countries of the Eurasian Economic Union, including $11 million in exports to Russia.

By Tamilla Hasanova