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MINISTER OF FINANCE AND ECONOMY: RESTORATION OF KAREN
DEMIRCHYAN SPORTS AND CONCERT COMPLEX REQUIRES 500 MON EUROS
YEREVAN, SEPTEMBER 14. ARMINFO. Restoration of Karen Demirchyan
Sports and Concert Complex (SCC) requires 500 mln euros, Minister of
Finance and Economy Vardan Khachatryan said at the Armenian
Parliament Wednesday.
He said for lack of such funds, the Government approved the deal
proposed by BAMO Russian Industrial and Construction Holding.
Minister Khachatryan says at the first stage, the holding is to
invest $5 mln and another $9 mln later. No other applications for
restoration of the complex have been received.
To note, BAMO purchased the SCC, including a 19.54 ha territory
occupied by the complex, for $5.7 mln for 50 years. The new owner has
a right to sell the territory for the price established by the State
Realty Register of Armenia. The owner pledges to maintain the name
and the profile of the complex, to invest $9-10 mln within the first
three years and to organize at least 5 public events annually at the
request of the Armenian Government.
DEMIRCHYAN SPORTS AND CONCERT COMPLEX REQUIRES 500 MON EUROS
YEREVAN, SEPTEMBER 14. ARMINFO. Restoration of Karen Demirchyan
Sports and Concert Complex (SCC) requires 500 mln euros, Minister of
Finance and Economy Vardan Khachatryan said at the Armenian
Parliament Wednesday.
He said for lack of such funds, the Government approved the deal
proposed by BAMO Russian Industrial and Construction Holding.
Minister Khachatryan says at the first stage, the holding is to
invest $5 mln and another $9 mln later. No other applications for
restoration of the complex have been received.
To note, BAMO purchased the SCC, including a 19.54 ha territory
occupied by the complex, for $5.7 mln for 50 years. The new owner has
a right to sell the territory for the price established by the State
Realty Register of Armenia. The owner pledges to maintain the name
and the profile of the complex, to invest $9-10 mln within the first
three years and to organize at least 5 public events annually at the
request of the Armenian Government.