ArmInfo. The Investment Committee of Armenia gave preliminary approval to the investment project for the construction of the Dry Port industrial park in Gyumri, the press service of the RA government reports.
Presenting the project, Armenian Minister of Economy Vahan Kerobyan noted the project will contribute to tha opening of thousands of new jobs in Gyumri, as well as the establishment a transport hub that will connect air, land, and rail transport with nearby ports and major transport routes. According to the minister, the project will bring great economic benefits not only to the Shirak region, but also to the whole of Armenia.
According to Kerobyan, the government will invest $37 million in the project, at the same time, large foreign investors will also be attracted, who should become operators of the Dry Port. The volume of their investments, as the head of the department noted, will significantly exceed the share of government investments.
"We should also involve the industrial companies that will already set up their facilities in the industrial park. The implementation of the project is expected to take 5-7 years," he noted. The minister also added that the Dry Port is integrated into the government's Crossroads of Peace project. Following the meeting, Prime Minister of Armenia Nikol Pashinyan instructed the relevant department to develop a "road map" for the implementation of the project.
The Dry Port or industrial park is planned to be built on the territory adjacent to the Shirak airport, which will border the airport, the railway and the North-South highway. The Dry Port is envisaged as a multifunctional and multimodal hub to serve those local and international companies that require an operational procedure to consolidate customs processes, which can help reduce the latter's operating costs. According to the intended goals, the Dry Port industrial park being established in Gyumri will provide 3% of Armenia's GDP.
The project was announced for the first time by Minister of Economy Vahan Kerobyan in the spring of 2021.
