GTB Steel rebar plant opens in Ararat community of Armenia, $31 million invested

YEREVAN, March 17. /ARКА/. Armenian Prime Minister Nikol Pashinyan attended the opening ceremony of the Armenian-American GTB Steel rebar plant in Ararat community last Saturday, with $31 million invested in the plant.
The plant was supposed to be built in Yeraskh community near the border with Azerbaijan, but due to constant shelling by the Azerbaijani armed forces, it was moved to Ararat community in the summer of 2023.
The plant's production capacity is 112,800 tons per year. It currently employs 240 people, but their number is planned to be increased to 500 within three years.
Two 250-ton induction furnaces, a rolling mill, and a flow line for rebar production were purchased.
Scrap metal and sponge iron are used as raw materials. The final products are steel reinforcement, pipes, steel balls, hot-rolled and cold-rolled spirals. A 40,000 kVA transformer substation, a 110 kV overhead power line and a new cell at the Ararat-2 station have been built.