2024-04-09 22:45:02
In order to move the metallurgical plant from Yeraskh to Ararat, the RA government allocated 3 billion 500 million drams budget loan to “GTB Steel” company with an annual interest rate of 8%, for 4 years, starting from the 3rd year.
On December 14, 2023, the Government adopted and approved the decision “Approving the investment project for the construction of a steel plant in the Ararat settlement of the Ararat community of the Ararat region of the Republic of Armenia and giving consent to the donation of land plots to the limited liability company “GTB Steel”.
The company was provided with a donation of plots of land for the construction of a steel plant in the Ararat settlement of the Ararat community of the Ararat region of the Republic of Armenia, because the company’s construction of the steel plant in the Yeraskh settlement of the Ararat region was stopped due to some circumstances (it was regularly under fire from the Azerbaijani side – Aysor.am).
In order to build the steel factory in Yeras, the company made a number of construction (and not only) expenses, the total amount of which is around two billion drams.
As a result of the full operation of the production capacity, up to 500 jobs will be created (about 240 in the first phase), which will also create many other jobs in the service and maintenance sector. The factory will have an annual turnover of 200-250 million US dollars.
In the first phase, it is planned to build a black metal scrap processing plant with an annual productivity of 100-120 thousand tons, in the second phase, the production volume will be doubled and a factory for other metal constructions and products will also be built (pipes, profiles of various sections, containers, etc.).
The initial required investment is about 29.9 million US dollars, which will be obtained through investment in the authorized capital and borrowing from financial institutions.