GTB Steel determined to continue the construction of smelter in Armenia’s Yeraskh

The construction at the site of the smelter in Armenia’s Yeraskh is halted for now, but the work will resume after some technical issues are clarified with relevant authorized bodies, GTB Steel CEO Tiran Hakobyan told reporters in Yeraskh.

The company is building a black metal scrap processing plant (smelter) in the border community.

The Azerbaijani forces have been targeting the equipment and workers at the site in an attempt to prevent the construction of the plant. Two Indian nationals working on the site were injured in Azerbaijani shooting on Wednesday and were operated on at Ararat Medical Center.

“They don’t want to see economic growth in Armenia, while our plant will have a rather serious investment in Armenia’s economy. It will produce 200-250 tons of rebar annually after full commissioning,” the CEO said.

According to Tiran Hakobyan, 200 people are involved in constriction works, about 70 are Indian nationals.

“We had offers to build the plant in different parts of Armenia, but our co-owner Grigor Ter-Ghazaryan insisted that we build it in Yeraskh, because it’s important to develop the border communities,” the CEO said.

“We are determined to continue the construction, we will not stop the work,” Hakobyan said.

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