Friday, June 9 2023 19:19

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.