Lift-Producing Plant To Be Constructed In Spitak, Armenia
07.07.2011,
02:10
Construction of a lift-producing plant will be launched in Spitak, Armenia, in October or November, Arsen Karamyan, Armenian deputy youth and sports minister and the president of the Union of Yerevan State University Graduates, said on Wednesday.
YEREVAN, July 6. /ARKA/. Construction of a lift-producing plant will be launched in Spitak, Armenia, in October or November, Arsen Karamyan, Armenian deputy youth and sports minister and the president of the Union of Yerevan State University Graduates, said on Wednesday.
An appropriate agreement initiated by the union, will be signed between New Techn, Armenian company, and КOYO, the company with Japanese capital.
Karamyan said that the construction is believed to last one year, and the first lifts are planned to be released in May 2012.
The plant will employ some 130 people with AMD 160,000 (about $434) average salary.
“This will contribute a great deal to development of Spitak,” the deputy minister said. He also said that $5 million would be invested in production within the first three years.
“КOYO will hold 70% of the company’s shares, and the remaining 30% will belong to New Techn OJSC,” Karamyan said.
The КOYO uses a German production line and exports lifts and escalators to more than 40 countries. The company has sent its products to Milan and London’s subways, Milan’s airport and New York’s M&M trade center. –0—
An appropriate agreement initiated by the union, will be signed between New Techn, Armenian company, and КOYO, the company with Japanese capital.
Karamyan said that the construction is believed to last one year, and the first lifts are planned to be released in May 2012.
The plant will employ some 130 people with AMD 160,000 (about $434) average salary.
“This will contribute a great deal to development of Spitak,” the deputy minister said. He also said that $5 million would be invested in production within the first three years.
“КOYO will hold 70% of the company’s shares, and the remaining 30% will belong to New Techn OJSC,” Karamyan said.
The КOYO uses a German production line and exports lifts and escalators to more than 40 countries. The company has sent its products to Milan and London’s subways, Milan’s airport and New York’s M&M trade center. –0—
