Construction of major metallurgical plant to be postponed in Armenia

Construction of a major metallurgical plant in Yeraskh (Arazdayan) village on the border with Azerbaijan will be moved to another location, Economy Minister Vahan Kerobyan said, Report informs referring to Sputnik Armenia.

“We, in fact, are dealing with private investment. Construction is carried out with private funds, and investors themselves determine their next steps. We, taking into account the geographical location and regional environment, are trying to be as useful as possible for them,” he noted.

The owners of the plant are the US companies Virtual Funding and CESI Global Investments (through the company GTB Steel).

Earlier, the Azerbaijani government demanded that Armenia suspend the construction of a metallurgical plant in Arazdayan.