Armenia to produce equipment from stainless steelJuly 20, 2018 - 13:12 AMT PanARMENIAN.Net - Business Armenia on Friday, July 20 signed a Memorandum of Understanding with ARGA-Eurosteel on the investment of $850,000 and the construction of a new factory for the production of equipment from stainless steel. The document was signed by the Business support team leader at Business Armenia Hayk Mirzoyan and ARGA-Eurosteel CEO Garen Salkhanian. According to the MOU, Business Armenia is to support the company in investment and export processes. The construction of the factory building has started in October 2017 and is expected to be over in the next few months. The facility in Kotayk promise will employ 24 people. “For the next stage of investments, which will be supported by the Government, the machinery and raw materials will be imported. We expect the factory to start operating within a few months and start producing industrial furnaces and other equipment for bakeries and kitchens. The company will offer design, production, installation and maintenance services,” said CEO of Business Armenia, Armen Avak Avakian. “Currently, Armenian hotels, restaurants, cafes, schools and business centers import that equipment, but our company will soon offer an opportunity to use locally made machinery,” Salkhanian said. “Saltek – the company behind the new factory in Armenia - has over 40 years of experience, with its production now available in more than 90 countries in the world. Saltek is establishing the factory in collaboration with the Giro Stainless Steel company. As a future export destination the company views the Russian, Ukrainian, Georgian and Iranian markets,” said Mirzoyan. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skills Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |