I Did Everything I Could, But It Didn't Work Out: Iranian-Armenian Businessman on Yeghvard Oil Refinery

The Yeghvard oil refinery will not open. This was announced by the Economy of Armenia Facebook page. It is mentioned that Iranian-Armenian businessman Henrik Ter-Ghukasyan stated that there are some satanic groups in Armenia that hinder investors. The permit for the Armoil oil refinery was granted before the revolution, and the new authorities also provided permission afterward. However, problems began with local businessmen who own fruit orchards nearby, as well as with residents of adjacent houses.

Owners of the fruit orchards demanded either to stop the construction of the factory producing bitumen and various oils or to buy the plots of land for their orchards. Henrik Ter-Ghukasyan stated that the factory is located in the Yeghvard industrial zone and will use the most modern equipment without emissions. Meanwhile, local residents demanded $200,000 for their homes, which is 5-10 times more than their market value.

The businessman mentioned, "In total, he said he has already invested $23 million in the business and plans to invest $30 million, creating 300 jobs with a salary of 250,000 drams. He promised that he would never return to the factory issue, leaving everything to God's judgment. "As an Armenian, I did everything I could in my homeland, but unfortunately, it didn't work out, and now I understand that it shouldn't have worked out from the beginning," he stated.