# AMSTAL building $15.4M building materials factory in Gyumri, Armenia

AMSTAL is building a factory in Gyumri, Armenia, to produce thermal insulation materials and plasterboard. The company plans to invest $15,375,000, with construction expected to complete in 3-4 months and production starting about 9 months later, creating up to 1,000 jobs.

- Type: New facility
- Announced: 2022-04-06
- Where: Gyumri, Armenia
- Value: $15.4M
- Jobs: 1,000
- Starts operating: Aug 2023
- Status: under construction
- Products: thermal insulation materials, plasterboard
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [AMSTAL](https://endata.com/companies/62147.md)

## Sources

- [investin.am](https://investin.am/news/thanks-to-the-investment-of-15375000-the-amstal-company-is-building-a-factory-for-the-production-of-building-materials-in-gyumri/), 2022-04-06: "The company plans to invest $15,375,000 in the creation of the factory."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.