In a recent Facebook post, Armenian Economy Minister Vahan Kerobyan shared exciting news about the construction of a substantial Armenian-American steel plant in the village of Yeraskh, located in the Ararat region. This ambitious project is set to bring significant economic and industrial growth to the region.
With an estimated investment of around $70 million, the steel plant is being built from the ground up. The production workshop stands at an impressive height of 30 meters, covering an expansive area of 16,500 square meters. Once fully operational, the plant is projected to manufacture 180,000 metric tons of steel products annually.
The construction of this steel plant is a testament to the commitment to fostering industrial development and creating job opportunities in Armenia. The project has already provided employment to 200 individuals, and it plans to expand its workforce further, aiming to hire an additional 800 employees once the plant is commissioned.
The establishment of the Armenian-American steel plant in Yeraskh represents a significant milestone in the country's efforts to bolster its industrial capabilities. This venture is expected to contribute to the overall economic growth and enhance Armenia's position in the steel production sector.