Today Business Armenia has signed a memoradum of understanding on investment of USD 850,000 and a construction of a new stainless steel equipment producing factory.

According to the signed MOU, Business Armenia is to support the company during any stage of its 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 stainless-steel equipment production is being founded in Kotayk marz and will employ 24 people.

“For the next stage of the 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,” CEO of Business Armenia Armen Avak Avakian mentioned.   

“Currently, the Armenian hotels, restaurants, cafes, schools and business centers import that equipment. Meanwhile our company will soon be certified according to the ISO9001, ISO14001, and OHSAS18001 standards and will be competitive both for local and international markets. We will offer a good way to exchange the exported machinery with the locally made ones,” CEO of ARGA-Eurosteel Garen Salkhanian stated.

“The factory founder company Saltek has over 40 years of experience and its production is presented in over 90 countries in the world. Saltek founds the Armenian factory joint with the Giro Stainless Steel company. As a future export destination the company views the Russian, Ukrainian, Georgian and Iranian markets,” Business support team leader Hayk Mirzoyan highlighted.