Iranian company to produce gas cylinders in Armenia

|

USD

381.5

EUR

447.27

RUB

4.7664

GEL

141.62

06.09.2018, 13:22

Iranian company Rad Sane Vashamir Group will invest 11 billion drams in the construction of a plant for production of composite gas cylinders in Armenia’s third largest town of Vanadzor, Deputy Minister of Economic Development and Investments Albert Babayan said at a government meeting on Thursday.

Iranian company to produce gas cylinders in Armenia

YEREVAN, September 6. /ARKA/. Iranian company Rad Sane Vashamir Group will invest 11 billion drams in the construction of a plant for production of composite gas cylinders in Armenia’s third largest town of Vanadzor, Deputy Minister of Economic Development and Investments Albert Babayan said at a government meeting on Thursday.

The government granted today the company a three–year VAT payment deferment for import of equipment.

Babayan said gas cylinders will be installed on cars fueled by methane. According to him, similar gas cylinders are produced also in the US, Europe and Pakistan.

He said the plant will be built in three years and create 112 new jobs with an average salary of 160 thousand drams. ($ 1 - 484.10 drams). -0-

Ardshinbank Launches New Toolkit on sme.ardshinbank.am Platform for SMEs

Ardshinbank announces the launch of a new toolkit on its sme.ardshinbank.am platform, offering small and medium-sized enterprises a more convenient, faster, and accessible way to obtain necessary financing.

18.12.2025 14:19

Central Bank of Armenia lowers refinancing rate for the first time since February 2025

At its meeting on December 16, the Board of the Central Bank of Armenia has lowered the refinancing rate by 0.25% to 6.50%.

16.12.2025 12:58

Freedom Broker Armenia's Three Recommendations for Investors on 2026 Strategy Formulation

Freedom Broker Armenia Director Hovak Hovakimyan, in an interview with ARKA news agency, offered three recommendations he would give to investors when formulating their strategy for 2026.

16.12.2025 11:19

Armenia has seen a "quantum leap" in the presence of foreign investors, says Freedom Broker Armenia Director

Armenia has witnessed a significant increase in foreign investor presence compared to 2022, stated Hovak Hovakimyan, the Director of Freedom Broker Armenia.

16.12.2025 10:57

EIB and Ardshinbank launch €100 million partnership to boost business growth and job creation in Armenia

The European Investment Bank (EIB Global), the bank of the European Union, and Ardshinbank OJSC are entering a new phase of cooperation with the signing of a €100 million loan agreement to expand access to finance for micro, small and medium-sized enterprises (MSMEs) and mid-cap companies across Armenia.

12.12.2025 18:07

Intelligent Management Holding Announces First Bond Issue with Ameriabank acting as Underwriter

Intelligent Management Holding, the founder and managing company of EFES Insurance Company and the Vardanants Innovative Medical Center, announces the issue of registered coupon bonds in the amount of 1 billion drams and 2.5 million US dollars.

12.12.2025 18:07

Trust is the key to successful cooperation

Acba Bank presented its experience at the conference "The Boards of Directors in Armenia: Challenges and Opportunities," emphasizing the key role of corporate governance in the development of the Armenian economy, the bank's press service reported.

12.12.2025 09:19

Armenia will be granted duty-free quota for import of 15,000 electric vehicles in 2026

The Minister of Economy, Gevorg Papoyan, announced that Armenia will receive a duty-free quota for importing 15,000 electric vehicles in 2026.

11.12.2025 19:01