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EBRD WILL PROVIDE $3.8 MILLION LOAN TO SARANIST, LEADING ARMENIAN MANUFACTURERS OF GLASS CONTAINERS
YEREVAN, July 10. / ARKA /. The European Bank for Reconstruction
and Development (EBRD) said today it will provide a $3.8 million
loan to Saranist Company, a leading manufacturer of glass containers
in Armenia.
Part of the funds will be channeled into construction of a furnace
with two additional production lines and another part into upgrading
the workshop with modern technology that will reduce the loss of raw
materials and energy consumption.
Founded in 1989, Saranist is one of the leading manufacturers of
glass containers in Armenia. The company produces a variety of bottles
and containers made of clear and colored glass, selling them at the
domestic market and importing part to Georgia.
When this project is implemented the company will be able to increase
production to meet the growing demand for glass containers in Armenia
and Georgia by offering an alternative to more expensive imported
glassware.
Earlier, the Bank assisted the company to improve information
systems management as part of a broader program designed to boost
small businesses.
"We are pleased to continue to work with those customers who expand
their production, improve the quality and efficiency and develop
from a small company into a leader of the sphere. This program is an
excellent example of the Bank's involvement in promoting production,"
Bruno Balvanera, the director of the Bank for the Caucasus, Moldova
and Belarus was quoted as saying.
The EBRD is the largest investor in Armenia. Since the beginning of
its activities in the country it has invested about 650 million euros
in 120 programs. In 2012, the EBRD financed 15 projects in Armenia
with a total budget of 94 million euros. -0-
- See more at:
http://arka.am/en/news/economy/ebrd_will_provide_3_8_million_loan_to_saranist_lea ding_armenian_manufacturers_of_glass_containers/#sthash.qxCimMLB.dpuf
YEREVAN, July 10. / ARKA /. The European Bank for Reconstruction
and Development (EBRD) said today it will provide a $3.8 million
loan to Saranist Company, a leading manufacturer of glass containers
in Armenia.
Part of the funds will be channeled into construction of a furnace
with two additional production lines and another part into upgrading
the workshop with modern technology that will reduce the loss of raw
materials and energy consumption.
Founded in 1989, Saranist is one of the leading manufacturers of
glass containers in Armenia. The company produces a variety of bottles
and containers made of clear and colored glass, selling them at the
domestic market and importing part to Georgia.
When this project is implemented the company will be able to increase
production to meet the growing demand for glass containers in Armenia
and Georgia by offering an alternative to more expensive imported
glassware.
Earlier, the Bank assisted the company to improve information
systems management as part of a broader program designed to boost
small businesses.
"We are pleased to continue to work with those customers who expand
their production, improve the quality and efficiency and develop
from a small company into a leader of the sphere. This program is an
excellent example of the Bank's involvement in promoting production,"
Bruno Balvanera, the director of the Bank for the Caucasus, Moldova
and Belarus was quoted as saying.
The EBRD is the largest investor in Armenia. Since the beginning of
its activities in the country it has invested about 650 million euros
in 120 programs. In 2012, the EBRD financed 15 projects in Armenia
with a total budget of 94 million euros. -0-
- See more at:
http://arka.am/en/news/economy/ebrd_will_provide_3_8_million_loan_to_saranist_lea ding_armenian_manufacturers_of_glass_containers/#sthash.qxCimMLB.dpuf