Who Are the Investors Announced by Vahan Karabyan in Eraskh?

In the village of Eraskh, located in the Ararat region, a metallurgical plant is being built that will process and produce ferrous metals, rebar, angles, and pipes. Recently, the Minister of Economy Vahan Karabyan announced the plant on its Facebook page, stating:

“A large Armenian-American metallurgical plant is being built in Eraskh with an investment of 70 million USD from scratch. The production site is a building 30 meters high and 16,500 square meters in area, which will produce 180,000 tons of products annually. Currently, 200 people are employed, and after commissioning, 1,000 will be employed.”

The news about the factory in Eraskh was reported by Hetq back in November 2022. At that time, it became known that the daughter of Vazgen Sargsyan's brother, Armen Sargsyan, was collaborating with an Indian businessman who holds US citizenship to process scrap metal at the Armenia-Nakhchivan border. The Ministry of Economy confirmed that this is the same plant.

There has been a change in the shareholder list of the company constructing the plant; however, according to information obtained from the company, the