Vegetable oil production plant to be established in ArmeniaOctober 8, 2018 - 14:25 AMT PanARMENIAN.Net - With the support of Business Armenia and an investment of several million dollars, a new factory will be found in Armenia. Ghalbourjian Group, in particular, aims to start production of vegetable oil and other additives. In the first stage of the project, the firm will be investing $500.000 The plant will be built in the town of Masis in Ararat province to create more than 40 new jobs in the first phase of the investment. In the second stage, farmers will also be involved. "The factory will mainly produce sesame oil. Eexport agreements with partners from the Arab market have already been reached," said Hayk Mirzoyan, head of Business Armenia Businessmen Support team. "In recent years, the consumption of vegetable oil by the international market has substantially increased. Taking into account the high demand, target markets for the Armenian product will also include EAEU, the Middle East, some EU countries, Canada, to name a few,'' CEO of Business Armenia, Armen Avak Avakian said. During the next stage of the program, it is planned to establish a machine-tool factory, which will supply the market with conveyor systems, containers, stainless steel mills to use in food, wine, mineral water and other productions. "I want my grandchildren to move to Armenia. When I start my work and they see that it is possible to live a good life here, they will definitely come" said Mr. Zohrab Ghalbourjian, the founder of Ghalbourjian Group company. Business Armenia has contributed to the registration of Ghalbourjian Group company, in the process of the acquisition of land and raw material, business plan development and in other matters. 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”. |