Armsunproduct, the agribusiness unit of Armenian transportation company Spayka Co., is planning to infuse around 42.7 billion drams ($88 million) in a greenhouse located near Yerevan.

The new greenhouse equipment will employ as many as 700 people with an average salary of $311.4.

The greenhouse project will mainly grow tomatoes and launching production of mouldy products in the region.

Armsunproduct will produce $33.2 million worth produces in the first year of operation and export $29.1 million worth produces to the Eurasian Economic Union and the rest to other countries.