ArmInfo. The steel plant in the territory of the Republic of Armenia will be constructed in accordance with the environmental standards and requirements, within the framework of domestic legal regulations. This is stated in a statement by the Ministry of the Environment in response to the concern allegedly shown by the Azerbaijani authorities.
"Azerbaijan's statement regarding the negative transboundary impact on the environment as a result of the operation of the plant is groundless and does not correspond to reality. The only real purpose of these environmental false alarms is to hinder the economic development of the Republic of Armenia. The Republic of Armenia is committed to fulfilling all its international obligations in the field of environmental protection.>, the statement of the Ministry of Environment of the Republic of Armenia reads.
Earlier, Arminfo, referring to the press service of the RA Ministry of Economy, reported that the new steel plant in Yeraskh will be engaged in the production of ferrous metals, fittings, steel squares and pipes. According to the information provided, the metallurgical production will be launched by the GTB STEEL LLC Armenian-American enterprise, which was established in Armenia last year. The enterprise has already passed all EIA procedures (environmental impact assessment) and will be equipped with modern production facilities. As Minister of Economy Vahan Kerobyan previously reported on his Facebook page, they-o-y production volume will reach 180,000 tons. The launch of the production process provides 1000 new jobs. The total cost of the project is estimated at $70 million. The plant will be built in Yeraskh on an area of 16,500 sq.m.
According to the State Register Agency of Legal Entities of Armenia, GTB STEEL was founded in the summer of 2022. The owners of the enterprise are U.S. citizen Bobby Kang and Armenian citizen Nono Sargsyan. The director of the enterprise is Tigran Hakobyan.
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