Iranian company to invest $ 180 million in construction of plants in the north of Armenia

ArmInfo. "Rad Vashmir Group"  LLC will build in the Lori region of Armenia enterprises for the  production of composite cylinders. This was reported to Karen  Karapetyan, Prime Minister of the Republic of Armenia, who visited  the construction site of future plants as part of the festivities  dedicated to the Day of Vanadzor.

The total cost of the investment program is $ 180 million. Iran's Rad  Sane Vashamir Group LLC represents the international industrial  company Rad Sane Vashamir, engaged in the production of composite  cylinders, which operates in Turkey, Thailand and the Russian  Federation. Realization of the project in Armenia together with the  infrastructures will allow the use of about 2 thousand people.  Investments are planned to be carried out in three directions:  construction of a plant for the production of composite cylinders,  the foundation of a plant for the production of carbon microfiber,  and the construction of an agro-industrial complex. Work on the  construction of a plant for the production of composite cylinders is  scheduled to begin in October 2017 complete in April 2018, the volume  of investments is $ 20 million, the number of employees is 100  people. Work on the construction of the carbon production plant is  scheduled to begin in October 2017, complete in November 2018, the  volume of investments will be $ 80 million, the number of employees  is 300 people. Enterprises of the agro-industrial complex will be  engaged in the production of dairy products (milk powder, cheese,  butter), livestock (meat production), fruit processing (production of  fruit flour). In addition, it is planned to found an abattoir. Work  on the creation of the agro-industrial complex is planned to begin in  May 2018 and be completed in May 2019. The total investment in the  project is $ 30 million, and the number of employees is 300-400  people.

The Prime Minister welcomed the implementation of such a large-scale  investment project by the Iranian company, assuring that the  government is interested in its successful implementation, and is  ready to provide the necessary assistance.