The AMSTAL company is building a factory for the production of thermal insulation materials and plasterboard in Gyumri. The factory is expected to have up to 1000 jobs in about 1 year. The company aims to create a factory complex in Gyumri, where building materials will be produced, which will create an opportunity to build residential buildings, schools, kindergartens, etc. at the most affordable prices, also contributing to the creation of jobs in Gyumri.

The area where the factory will be built was leased to the company by the community for a period of 50 years. The company plans to invest $15,375,000 in the creation of the factory. The first stage of the investment project, the construction of the factory, is planned to be completed in 3-4 months. About 9 months after the construction of the factory, it is planned to start the production of heat-insulating materials and plasterboard.