With the support of Business Armenia and investment of several million US dollars, the Ghalbourjan Group is to construct a new vegetable oil plant in the city of Masis, south of Yerevan and close to the Turkish border.
According to the investors, the factory will occupy a site of around 6,000 sq m and will create over 40 new jobs in its initial phase. During the second stage of development, local farmers will be encouraged to produce sesame seed for sesame oil, which will also be produced at the plant. Hayk Mirozyan, the head of Business Armenia’s Business Support Team said that a deal had already been agreed with a partner to export sesame oil to the Arab market.
Armen Avak Avakyan, the CEO of Business Armenia, added: “In recent tears, the consumption of vegetable oil by the international market has substantially increased. Taking into account this high demand, target markets for this Armenian product will also include the EAEU, the Middle East, some EU countries, Canada and others.”
The third stage of Ghalbourjan Group’s plan is to establish a machine-tool factory, which will supply the market with containers and other products used in food, wine and mineral water processing.
“I want my grandchildren to move to Armenia,” said Zohrab Ghalbourjian, the founder of Ghalbourjian Group. “When I start my work, and they see that it is possible to live a good life here, they will come.”