Freight forwarding company creates long-term value through green investment

"Apaven Terminal" CJSC
Yerevan, Armenia
Investment Size
US$ 124,000
Financial results
Payback in 6 years
Energy savings
239 MWh per year
CO2 savings
66 tonnes per year
Improved performance, cost efficiency

Storage organisation benefits in multiple ways from high-performance equipment of European origin

One of the first established and leading freight forwarding companies in independent Armenia has invested in high-performance loaders to make its processes more energy and cost-efficient.

Established in 1993 to organise the freight delivery of humanitarian aid to Armenia, Apaven became a commercial business and one of the most recognised companies of the country.

The management decided to invest in two new loaders from top European producers to keep the levels of performance high, as well as cut operation costs.

The GEFF team performed the project analysis, assessed the potential for energy savings, as well as the financial and technical parameters and risks.

The US$ 124,000 investment allowed the company to reduce its diesel consumption by 239,000 MWh per year, resulting in annual cost savings of US$ 22,630. This means the investment will be repaid out of energy savings in six years, continuing to generate additional profit in the years to follow.

The new equipment led to a reduction in CO2 emissions of 66 tonnes per year, making a valuable input towards mitigating the negative effect of freight storage on the environment.

“This process optimisation investment helps us to become more efficient and contributes to long-term thinking. Such investments grant the opportunity to concentrate on client needs instead of processes,” stated executive director Mr Gagik Aghajanyan.

This project was supported by both the EU and the Austrian Federal Ministry of Finance.