Wednesday, April 8 2020 15:10

ArmInfo. The construction of the City of Engineering starts this year. On April 8, Minister of High-Tech Industry Hakob Arshakyan said this at a press conference in  the Unified InfoCenter, answering ArmInfo's question about the dates  of the start of construction of the Engineering City in connection  with the coronavirus pandemic in Armenia.

In particular, he said that tenders have already been summed up and  contractors have been identified. "In summer or early fall, it is  planned to begin land work," the minister said.

It should be noted that earlier it was reported that the construction  of the Engineering City in Armenia will be completed in late 2020 -  early 2021, however, the construction had to be postponed.  To recall  the Armenian government at the meeting on March 1, 2018 approved the  concept of creating the Engineering City and the schedule of events  arising from the document. The goal of the program is to turn Armenia  into a country exporting engineering and high-tech products and  services to the global market, as well as into a regional hub of  innovative solutions. To establish the Engineering City, on area of 3  hectares Bagrevand Street was chosen.

The program is planned to be implemented on the basis of  public-private partnership. The planned investment volume will amount  to $ 21.2 million, of which $ 10.5 million is state co-financing  under the World Bank credit program "Trade Promotion and Quality  Infrastructure". National Instruments AM and a consortium of 14 joint  stock companies invest the rest part. of investment.  The program is  expected to reach self-sufficiency for the 4th year of operation. The  project plans to train and retrain 1,500 specialists in the field of  engineering and high technology. 2000 new workers will be created and  20 new enterprises founded. It is also expected to increase the  efficiency of companies by 40%, export volumes of intellectual  products have increased by 30%.