On December 16, Armenian President Serzh Sargsyan visited Byureghavan-based Glass World Company, the glass containers manufacturer, to familiarize himself with programs on establishment of new production capacities.

Co-owner of the company Aram Kocharyan said that the company intends to invest $17mln in new projects in 2011.

Through financing of the Eurasian Development Bank, Glass World Company envisages establishing new plants on labels, caps, corrugated packaging production, as well as potable water bottling.

Kocharyan said that currently the company produces 120mln pieces of glass containers annually, out of which 67% is exported. Coca-Cola, Pepsi, Borjomi, Biluga, as well as Armenian companies – Yerevan Ararat Brandy-Wine-Vodka Factory, Tamara Fruit, Noy, Artfood and others – are among clients of the company.

Currently, the company employs 314 people with an average salary of AMD 132,000.