Lebanese investors will launch production of equipment for hotel and  restaurant business in Kotayk region

ArmInfo.In the village of Aramus, Kotayk region, a plant will be established in late October specialized in production of equipment from stainless steel for the  hotel and restaurant business.

The investor of the plant is ARGA-Eurosteel. The corresponding memorandum on cooperation was  signed on 20 July by Hayk Mirzoyan, the head of Business Armenia  Business Support Group, and Garen Salkhanian, the CEO of  ARGA-Eurosteel.

According to Mirzoyan, the preliminary amount of investments of $ 850  thousand was envisaged, but according to preliminary calculations,  investments already exceeded $ 1 million. The plant, which was  founded by Saltek in cooperation with Giro Stainless Steel, will  provide 24 jobs. The average salary, depending on the specialization  of the employee, will total about 300 thousand drams. "The launch of  such a production will allow Armenian entrepreneurs to purchase the  necessary equipment in the domestic market," he said. Mirzoyan  stressed that the equipment will be of high quality, since it is  initially planned to receive certification of compliance with  international standards.

In addition, according to the representative of the Foundation,  within the framework of cooperation, discussions are held about the  possibility of obtaining assistance in the framework of the state  program, exemption from payment of customs duties for the import of  raw materials and prolongation of the terms of VAT payments.  Answering the question of ArmInfo, Garen Salkhanian noted that it is  planned to import raw materials for the production of equipment from  India. He also noted that similar factories are operating in Armenia,  but production in the Kotayk region will differ by its high quality,  since the investor company has certificates of compliance with  ISO9001, ISO14001 and OHSAS18001 standards. "We decided to found the  plant in Armenia, as we see a high potential in this field", the  Lebanese businessman emphasized.  The production will also be  exported to the markets of the EEU countries, Georgia, Ukraine and  Iran.  During the press conference G. Salkhanian said that this is  not the only investment project of the company in Armenia. Saltek  intends to invest about $ 2 million in the project for the production  of solar panels and about $ 1 million for the modernization of night  lighting in Yerevan.