YEREVAN, October 23. /ARKA/. A reinforcement producing enterprise was launched on the basis of the steel mill of Asce Group in Charentsavan town, in the presence of Armenia’s president Serzh Sargsyan who was in Kotayk region for a working visit.
The rated production output of the plant is 125,000 tons per year, but the production will be at full capacity starting from January next year, member of the company’s founders’ board Vahan Harutiunyan told reporters.
Most part of the produce will be sold in the local market and about 40% will be exported to the neighboring Iran and Georgia, he said.
Harutiunyan also said both loan owners’ funds were used to make investments in the plant worth 30 million dollars. Over 70% of the investments were used to purchase modern equipment from Austrian Siemens VAI.
Siemens VAI Vice-president and representative in CIS countries Andreas Lemp said they are proud to supply equipment for the first steel-melting and steel-rolling plant in Armenia.
Currently the staff of the company is 350 people, but another 150 people will be employed as from November to ensure two-shift operations. Average salary is about 180,000 drams in the plant.
Asce Group was founded in 1986 as part of ArmAvto factory. The company is engaged in steel and cast iron smelting. It ceased operations in 2008 due to the crisis and was re-structured for reinforcement production in 2013. ($1=405.71drams).–0--