Armenian oil refinery expected to meet entire region’s bitumen demand

SIL Capital is building a $20 million oil refinery in Ararat province, Armenia. 

Minister of Economy Gevorg Papoyan personally visited the construction site on Tuesday to inspect the work, the ministry said in a press release.

The total investments will amount to nearly 20,000,000 dollars, the ministry of economy said. The plant will allow the final production of several types of petroleum products in Armenia, ensuring more than 100 jobs and involving nearly 400 experts from various sectors throughout the whole process of the investment project.

The investment program envisages phased construction of petroleum product and bitumen storage facilities, a bitumen production plant, a hydrocarbon processing station, and organize local production of various petroleum products. 

The bitumen output will enable to meet the demand of not only Armenia but also the entire region, the ministry said.

SIL Capital founder and Board Director Eduard Sukiasyan accompanied Minister Papoyan during the tour.