Wednesday, February 8 2017 17:08
Naira Badalian

$105 mln total cost urban development projects approved in Armenia

$105 mln total cost urban development projects approved in Armenia

ArmInfo. Following the instructions of Karen Karapetyan,  the Prime Minister of the Republic of Armenia, the State Committee on Urban Development submitted to the Government Investment  Packages on Construction at total cost of USD 230 mln. Based on the results of discussions, the projects of total cost at  USD 105 mln were recognized feasible. This was stated by Narek Sargsyan  the Head of the Entity, during his meeting with journalists on February 8.

According to the Committee Head, there are already investors available due to the projects approved, as well as the funding and bank securities. Design projects are ready, and it is time to work on procedural documents.

At the same time Sargsyan stated, that the roster of approved projects with total cost of USD 105 mln does not comprise those under implementation already. Particularly, the Circus building, Dvin Hotel building, roads constructions etc.

Referring to certain projects, the Committee Head informed that the incomplete   building nearby the railway station will be destroyed, and instead a new multipurpose building with hotel, trade, public and official facilities will be raised, and the rear part assumes to  be a habitat complex. The investor will be a foreigner, who confirmed his participation. The total cost of the project is estimated at more than  $60 mln.  $10 mln  investments are planned to be allocated during the year of   2017. The project is planned to be completely finished within three year term. 

Following Sargsyan, as of today, active negotiations are being carried out in respect to other projects implementation, particularly, regarding the construction of new water reservoir, Kond suburb particular rehabilitation and reconstruction etc.

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