ArmInfo.The metallurgical works to be constructed in Yeraskh will produce ferrous metal, pipes, fittings, and stiffener angles, the Ministry of Economy told ArmInfo.
The production will be launched by the Armenian-US GTB STEEL company founded in Armenia last year.
The company has received an environmental impact statement and will be provided with modern equipment.
Armenia's Minister of Economy Vahan Kerobyan announced the $70mln construction project on his Facebook account. He reported the annual production capacity of the new metallurgical works is estimated at 180,000 tons, with 1,000 people to be employed. The new production will be located at an area of 16,500 sq. meters.
GTB STEEL was founded in Armenia last summer.
