The plant is designed to have a capacity of about 500 tonnes of feed per day. In the first half of 2011 industrial production of feed in Armenia significantly increased. In 2010, according to the National Statistical Service, the country had only one factory for the production of feed for livestock, and last year the total value of industry production was 70.7 million drams (US$ 190,000). In the period from January to June of 2011 the volume of production in value terms through active investment in the industry increased by 72pc to 244.3 million drams (US$ 657 thousands). According to the chairman of the Union of Poultry Breeders of Armenia Sergei Stepanian the high cost of imported feed hinders development of livestock industry in the country. He noted that the share of the cost of purchasing and preparing feed in the production cost of poultry over the past few years has grown from 60 – 65pc to 75 – 80pc. The new investment project will help to significantly reduce this figure. According to Stepanyan, Armenia’s annual market for poultry feed only (excluding the breeding farms and individual farmers) is at least 100 – 120 thousand tonnes.