Prime Minister Nikol Pashinyan attended the opening ceremony of the new PROFAL glass processing plant.
Nikol Pashinyan made a tour of the newly opened factory, got acquainted with the opportunities created, the modern equipment and the safety and quality assurance systems of the production process. PROFAL, a manufacturer of aluminum doors and windows, has built a new glass processing plant in the industrial area of Nairi community. It was built meeting the high European and American standards.
About 20 million dollars have been invested in construction and acquisition of modern equipment, another 10 million dollars are planned to be invested in the next two years. It was emphasized that during the implementation of the investment project, the company used the state support tool. the interest rates of machines purchased through leasing are subsidized by the Government in the first three years. 7 leasing contracts were signed with the PROFAL company, as a result of which the state provided an interest rate subsidy of 227 million drams.
75 new jobs have already been created as a result of the operation of the factory, and 100 more new jobs are planned to be created in the upcoming phase. The total number of PROFAL employees will be more than 600 after the planned job creation.
Details on expanding export markets were also provided. Accordingly, today the company's products are exported to a number of countries, including the USA, Canada, France, the United Kingdom, Saudi Arabia and others. 80 percent of PROFAL's products are consumed in the local market, and 20 percent are exported. With the operation of the new factory, the goal was set to change this ratio and significantly increase the export share.
