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 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. (PanARMENIAN/Business World Magazine)
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