A new glass processing plant of PROFAL company has been launched in Armenia. More than $20 million has been invested in the project, and the total area of the production complex is 120 thousand sq. m. According to the Ministry of Economy, the launch of the enterprise will increase current capacities approximately fivefold – to more than 40 thousand sq. m of processed glass per month.
Production areas will also expand rapidly. Over the next two years, they are planned to increase from the current 17 thousand to 40 thousand sq. m. To implement the project, the state supported the company by subsidizing interest rates on seven lease agreements totaling 227.3 million drams.
PROFAL products are already sold on the Armenian market and exported to a number of foreign countries. The new production should strengthen the company's position and increase supply volumes outside Armenia.