Stainless steel equipment producing factory being built in Armenia

Business Armenia has signed a Memorandum of Understanding on investment of $850,000 and a construction of a new stainless steel equipment producing factory. On behalf of Business Armenia, the document was signed by the Business support team leader Mr. Hayk Mirzoyan, whereas from the investment side the MoU was signed by the CEO of ARGA-Eurosteel, Mr. Garen Salkhanian. Under the document, Business Armenia is to support the company during any stage of its investment and export processes.

The construction of the factory building 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 region 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” mentioned the CEO of Business Armenia, Mr. Armen Avak Avakian.

“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 compatible both for local and international markets. We will offer a good way to exchange the exported machinery with the locally made ones” stated the CEO of ARGA-Eurosteel, Mr. Garen Salkhanian.

“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” highlighted the Business support team leader, Mr. Hayk Mirzoyan.

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