GTB Holding on the Relocation of the Yeraskh Factory

News reports continue to circulate regarding the relocation of the Armenian-American metallurgical factory operating in Yeraskh, suggesting that it will begin operations elsewhere. "Haykakan Zhamanak" has published GTB Holding's response to news about the relocation of the Yeraskh factory. Below is the commentary presented:

- How do you comment on the news of the metallurgical factory's relocation?

- GTB Holding has repeatedly stated and disseminated information about the investments and projects it has already implemented and plans to implement. Regarding the construction of the metallurgical plant, as has been voiced several times already, investments will be carried out in phases, considering the gradual increase in production volumes and the market demand for a diverse range of products. Nothing has been relocated, halted, or ceased. Yeraskh will undoubtedly have its continuation. As planned and envisaged, it is merely one of the phases of the production process. As for which phase it is, I would prefer not to elaborate at this time. Everything will be communicated in due course.

- But you are carrying out construction in other locations ...

- Yes, we are indeed doing that. Although our programs have fallen somewhat behind schedule, they are being implemented to the fullest extent possible, depending on our existing capacities. The implementation of works in different phases and different programs depends on a number of factors, among which I would particularly highlight the timing factor and the schedule for the arrival of relevant equipment. Company decisions regarding the works being carried out in a particular locality are primarily based on these challenges.

- So, has Yeraskh been overlooked?

- No, and once again, no. Moreover, the company continues and is committed to implementing support programs for border communities, particularly for the Yeraskh community.