U.S.-Armenian steel plant to launch mass production soon

YEREVAN, JANUARY 13, ARMENPRESS. A U.S.-Armenian steel plant in Ararat will begin mass production in February-March, Minister of Economy Gevorg Papoyan has said.

The steelworks, a U.S.-Armenian joint investment project, was originally planned to be opened in Yeraskh but was subsequently moved to the village of Ararat after Azerbaijani cross-border gunfire. Two foreign workers were wounded in the shooting. 

“The plant is almost completed. They have invested around 30-40 million dollars. The plant produces finished goods. Their product is rather high quality. They intend to start mass industrial production in February-March. 90 percent of the tests were successful,” the minister said at a press conference

Papoyan described the steelworks as a major and highly important investment project, one of the finest in Armenia. The official opening ceremony will take place soon.