The Armenian-American GTB Steel rebar plant was officially opened in Ararat, Armenia, with a US$31 million investment.

Initially built in the Yeraskh community, it was relocated due to the Azerbaijani armed forces’ shelling in 2023.

The plant has an annual capacity of 112,000 tons and employs 240 people, with plans to expand to 500 within three years. It has two 25-ton induction furnaces, a rolling mill, and a rebar production line, producing rebar, pipes, grinding balls, and hot-rolled and cold-rolled coils with the use of raw materials such as scrap metal and sponge iron.