Yeraskh metallurgical plant to be relocated to Ararat village

The Yeraskh metallurgical plant, which is being constructed
through foreign investments, will be relocated to Ararat village of Ararat
Province.  

The relevant decision has been adopted at a Cabinet meeting
today.

It is mentioned that studies have been conducted regarding
the plant location. An industrial area near Yeraskh in Ararat Province has been
chosen as a building site.

In the initial stage, there are plans to build a black metal
scrap smelter with an annual production level of 100,000-120,000 tons. In the
second stage, the production levels will be doubled and a plant of other metal
products (pipes, steel profiles, containers, etc.) will also be built. 

The initial investment will amount to about $29.9 million.