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UAR President To Launch Projects In Armenia

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  • UAR President To Launch Projects In Armenia

    UAR PRESIDENT TO LAUNCH PROJECTS IN ARMENIA

    ARKA
    Oct 20, 2008

    YEREVAN, October 20. /ARKA/. President of the Union of Armenians of
    Russia (UAR), World Armenian Congress (WAC) and of the Accord concern
    (Russia) Ara Abramyan stated his intention to invest $150mln in the
    construction of a hotel and a cannery in Armenia.

    "We plan the construction of a 5-star hotel in Yerevan for next year,"
    he said. This is a response to the Armenian President's appeal to
    Armenian businessmen to exercise initiative in development projects
    in Armenia.

    Abramyan also reported his plans to construct a cannery near
    Yeghegnadzor, Vaiots Dzor region.

    Among the businessmen who responded to the Armenian President's
    appeal are the American-Armenian businessman, Executive Director of
    the Metal Prince Company Serob Ter-Poghosyan and his partners, who
    expressed their willingness to invest $50mln in industrial, tourism
    and social development programs in the Lori region of Armenia during
    the next three years.

    Also, the Russia-based Armenian businessman Samvel Karapetyan is
    ready to invest $200mln in business and social projects.
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