Glass World Company projects to cost $17mln in 2011

Glass World Company projects to cost $17mln in 2011
December 16, 2010 - 13:49 AMT

PanARMENIAN.Net - 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.

Partner news
 Top stories
Armenian Public Council advises to rehabilitate ArmaviaArmenian Public Council advises to rehabilitate Armavia
“It’s a pity that instead of operating flights, airplanes with Armenian flags stand idle under the sun,” Ghazaryan said.
Gazprom seeks 100% stake in ArmRusgaspromGazprom seeks 100% stake in ArmRusgasprom
The issue was discussed by Gazprom chief Alexey Miller and Armenian Minister of Energy and Natural Resources Armen Movsisyan.
PSRC to discuss lowering water price at June 21 sittingPSRC to discuss lowering water price at June 21 sitting
On Feb 23, 2012, Yerevan Jur CJSC issued application for decreasing water prices from current AMD 174,059 to AMD 166,044 per cubic meter.
KfW Development Bank to assist SMEs in ArmeniaKfW Development Bank to assist SMEs in Armenia
Finance Minister David Sargsyan met with the regional director of KfW German Development Bank Lars Oermann.
Partner news
 Articles
EFSE funding for agricultural sector keeps growing

This is even more significant as the EFSE gives PLIs full flexibility in using MSE credit line funds across economic sectors.

 Most popular in the section
CBA: measures taken to de-dollarize Armenian economy
CBA forecasts 1% decrease in economic growth
Russia hails Armenia’s efforts for Customs Union integration – FM
CBA, EFSE, European Banking Center to sign MoA
Home
All news
Overview: Economy
Archive for December 16, 2010
Other news in this section
 Latest news
UN chief hails China's peacekeeping efforts Ban said China has provided more peacekeepers than all the other four permanent members of the UN Security Council.
Iran's Guardian Council approves presidential election result Hassan Rouhani won the election by taking nearly 51% of votes. Since he won more than half, that eliminated the need for a runoff.
Friends of Syria to meet in Doha on June 22: French official Assad's forces aim to retake Aleppo, where they have been mired in a bloody stalemate with rebels for nearly a year.
Parliament approves amendments to law on minimum wage rate Besides, new scale of salaries will be introduced, according to which the minimum wage rate will be doubled by 2017.