The Acting Prime Minister of Armenia, Nikol Pashinyan, on Saturday was on hand at the official opening of a composite gas cylinder production plant in Vanadzor.

Pashinyan toured this plant, which is built by the Rad Sane Vashamir Group company of Iran.

Company founders Hossein Yaghoubpour and Arayik Asryan informed the acting PM that so far, the actual investment in this venture had made up over $6 million, but the total investment will exceed $21 million.

Also, the company officials presented to Pashinyan their development programs in Vanadzor: Production of carbon fibers, whose investment amount is €60-80 million, and—within the framework of cooperation with SAIPA Group automotive company of Iran—a light passenger car assembly line in Armenia. In this context, Nikol Pashinyan was presented the sample of such a car that was assembled in Armenia, but with spare parts imported from Iran.

The acting premier, for his part, noted that the Armenian government stood ready to assist in bringing investment initiatives to fruition.