Karakert Steel Group is the result of several decades of experience of the founders in the business and engineering activities in the steel industry, and nowadays with its production and distribution activities in the steel industry in the form of rolling lines, continuous casting and steel trading is operating in this industry.

Considering the long-standing experience of this holding in providing technical, engineering and commercial services in the Eurasian region, in line with the Armenian policy about the Prohibition of scrap export from this country in late 2020, and the government’s purpose of creating employment and added value in Armenia, Karakert Steel group started investment in this country.

The first steps for this purpose were taken in January 2021 with the presence of the company’s technical engineering and market development teams to check the investment conditions. Finally, in the first phase, the shareholders of this company, by purchasing 100% of the shares of the stagnant Karajolman Gurjaran factory, in the Larnagog region of Armavir province, were able to restart this complex in the form of Karakert Steel Company from January 2022, by building a 25,000-ton smelting plant and producing standard steel billets after 35 years of stagnation, and by creating employment for 170 people, they made a significant contribution to the employment and economic development of the region.

Karakert Steel Company started investing in the second phase of this project in 2024, which is a rolling mill line with a capacity of 120,000 tons per year. According to the project schedule, it plans to put the second phase into operation in January 2025. By operating the second phase of this company, in addition to supplying more than 50% of the domestic needs of the Armenian market, Karakert Steel will be able to export its products to Eurasian countries.

Quality and world-class production is the most important values of Karakert Steel, which comes from the slogan of global quality of this company.