Tashir Group of Companies intends to remain Armenia’s largest private investor – Narek Karapetyan

The first Armenian Business Forum was held in 2021 in Yerevan, with Samvel Karapetyan, the president of the Tashir Group of Companies and the Association of Armenian Businessmen, announcing the implementation of large investment projects in Armenia.

Narek Karapetyan, the first vice president of the Tashir Group of Companies, said in his remarks during the Armenian Business Forum 2024 that all previously stated points had been completed. He added that the Tashir Group of Companies had launched new projects as well.
The main one was the construction of a new thermal power plant in the town of Hrazdan in Armenia, as well as the modernization of a strategically important facility in the field of energy security in Armenia, the Sevan-Hrazdan Cascade.

In 2022, a new metallurgical plant under the T-METAL brand, one of the largest projects in the last decade in heavy industry in Armenia, was opened. The enterprise will be able to solve not only the problem of the steel shortage in the country but will also allow it to be exported. This is about 200,000 sq. m of production and warehouse space with access to the Armenian railway, which in turn is connected to the main seaport of Georgia, Poti. This is an important and excellent leap forward for the Armenian economy, which should spur the development of the entire industry in the country.

Another system-forming enterprise opened last year is the AMPER power transformer plant.

Narek Karapetyan spoke about the creation of the region’s first production facility for electrolytic refining of copper and the projects in the light industry. During this period, the production capacity of the TASHIR KAR textile factory in the Lori region was expanded. “This project performs an important social function, providing employment for residents of the region, so over the past two years the number of employees has increased 2.5 times to 300 people,” he noted.

Plans have also been implemented in tourism: a hotel was opened in Ijevan in 2024, and another hotel in Tashir is at the final stage. The most anticipated cultural project in Armenia, the Yerevan Circus, is in the active stage of construction.

In addition to investing in the commercial sector of Armenia, the company has prioritized corporate responsibility and supported diverse charitable projects in the country, with 146 damaged and destroyed houses in the village of Sotk, Gegharkunik region, being reconstructed in the last year alone. In addition, the Tashir Group of Companies took several thousand residents of Artsakh, forced to leave their homes as a result of Azerbaijan’s aggression, under its full care.

“The Tashir Group of Companies has been the largest private investor in Armenia for three consecutive years, and it intends to continue this trend further,” Narek Karapetyan stressed.