A New Oil Products Processing Plant is Being Built in Ararat Province

Minister Gevorg Papoyan has visited the construction site of an oil products processing plant in Ararat Province. The Ministry of Economy of Armenia has disseminated this information.

The total investment for the implementation of the project will amount to approximately $20 million. The plant will enable the final local production of various types of oil products in Armenia, providing over 100 jobs and engaging around 400 specialists from various sectors throughout the entire project implementation process.

The investment program plans to build storage facilities for oil products and bitumen, a bitumen production facility, a hydrocarbon processing station, and to organize the local production of different types of oil products in a phased manner.

“One of the most important issues in our policy is to obtain more complex products economically, that is, to transition from simple raw material production to the production of final goods. In this context, the plant also embodies this policy because semi-finished products will essentially be transformed into final products, which is very important,” noted Gevorg Papoyan.