Acting Prime Minister Nikol Pashinyan today attended the commissioning of a composite gas cylinders manufacturing plant in Vanadzor. The plant was built by Iranian Rad Sane Vashamir Group.
Nikol Pashinyan toured the premises to get familiarized with the plant’s output capacity, products and technologies. Co-founders of Rad Sane Vashamir Group LLC Hossein Yagubpur and Araik Aseryan advised that USD 6 million has been spent in real investment. The total amount of investment will exceed USD 21 million. They noted that their cylinder producing technology is the best in the world, and the products so manufactured are in great demand owing to their reliability, safety, availability, lightness and durability. There are similar plants operational in Germany and the USA.
The plant was said to have a capacity of 200 cylinders per day after the launch, but the daily capacity will be up to 1,000 cylinders by next yearend thanks to new equipment installed. Once completed, the project will offer 120 jobs. Initially, a small portion of the output will be marketed in Armenia, and the rest – in Russia, India, Kazakhstan, Saudi Arabia and other countries.
The company’s top executives introduced their development programs, including a carbon fiber production project in Vanadzor with an investment of 60-80 million euros, and a car assembly project in Armenia in cooperation with the Iranian SAIPA Group. Nikol Pashinyan was shown the prototype of a car to be assembled in Armenia with spare parts imported from Iran.
The Acting Prime Minister welcomed the company’s expansion programs, noting that the Government is prepared to back their investment initiatives with all possible mechanisms.