The metallurgical plant in Yerevan, known as the “Arsenal of the Caucasus,” will be relocated to the village of Ararat in the Ararat province, according to an announcement made during a press conference. This decision is due to the high demand for metals in the region and the need to preserve the plant for the next 10-15 years. The selection of the Ararat region was based on research and its proximity to necessary production facilities and infrastructure. The plant’s full operation is expected to create around 500 jobs initially, with an annual turnover of $200-250 million.

In the first phase of construction, a black metallurgical smelting plant with a production capacity of 100-120 thousand tons per year will be built. The second phase will involve doubling the production capacity and constructing additional metallurgical structures and production types. The government plans to invest approximately $29.9 million in the project, which will be received through capital investment and financial support. The rapid pace of construction and coordination of investments, financing, and relocation are seen as crucial for the success of the project.

One challenge that arises with the relocation is the need to provide 89,100 hectares of agricultural land in the Ararat region. The government recognizes the significance of this plant relocation in terms of construction site change and economic development. This move will meet the increasing demand for metals in the region and contribute to the overall growth of the Armenian economy. The government’s support and investment in this project signify its commitment to the development of the metallurgical industry and the creation of employment opportunities.

Overall, the relocation and rebuilding of the Yerevan metallurgical plant in the village of Ararat will fuel economic growth in the Ararat province. The decision to move the plant is driven by the region’s demand for metals and the need to preserve this critical industrial facility. With an expected annual turnover of $200-250 million, the plant will contribute significantly to the local economy and provide employment opportunities for hundreds of individuals. Furthermore, the government’s investment in the project demonstrates its commitment to the development of the metallurgical industry and the overall growth of the country.