ARMENIAN-CANADIAN CIGARETTE PRODUCING ENTERPRISE TO BE LAUNCHED IN TBILISI AUGUST 5

PanARMENIAN.Net - Grand Tobacco Co. Ltd. Armenian-Canadian joint venture, which forms part of Grand Holding industrial group, is launching cigarette production factory in Georgia. As Georgian MP Beso Jugeli told journalists, the production of cigarettes of 32 names is planned to be begin on August 5, 2005. In his words, the new factory is situated in Tbilisi suburbs and is based on an enterprise that was in operation there before and was bought by Armenian millionaire Hrant Vardanyan. The latter invested $4 million in the new production. As noted by Jugeli, "the production of cigarettes will be Armenian, the Georgian party will distribute them." In his words, 200 Georgian citizens will work at the factory. The raw materials will be provided by Armenia. The availability of cigarette demand caused the establishment of the factory in Georgia, Jugeli said. "For the time being the cigarettes produced at the factory are planned to be sold only at the Georgian market," he noted. Speaking of the enterprise H. Vardanyan said it is launched in Georgia taking into account the cigarette market in Georgia makes 5 billion items annually (it is 2 billion in Armenia). In his words, such Armenian brands as Gloria, MT and others are to be produced at the factory. Grand Tobacco Co. Ltd. was founded in May 1997 on the initiative of Grand Tabak Canadian company. The enterprise range of goods includes 60 sorts of cigarettes. The company includes several tobacco factories, Novosti-Gruzia reported.