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ARMENIAN DEVELOPMENT AGENCY [ADA] TO INVEST IN CONSTRUCTION OF HOTEL COMPLEX 'MASIS, SIS AND NEW ARMENIA'
ArmInfo
2010-05-31 15:46:00
ArmInfo. Armenian Development Agency [ADA] has presented the
investment suggestion on construction of the hotel complex 'Masis,
Sis and new Armenia' on the bank of Egvard basin. The project,
which consists of 5 hotels and occupies 25 ha, will cost $500 mln,
$150 mln of which will be attracted like cash investments, the rest -
like credits. The mentioned $150 mln will be formed at the expense of
equal share investments by 50 participants in the project. According
to the preliminary data, the ending of the Egvard basin construction
will cost $70 mln.
'We think investors from Armenia and other countries of the world may
take part in the project', - the head of the investment project 'Masis,
Sis and new Armenia' Armen Vardanyan said and added the project may
be finished in 2015. 'In 2015 Armenians of the whole world will mark
100th anniversary of the Armenian genocide. We want this complex to
be able to receive numerous people which will arrive in Armenia to
commemorate the memory of out people's tragedy', - he said.
Construction of the hotel complex may last 3-4 years.
Director of ADA Robert Harutyunyan said at present they are negotiating
with MGM Mirage, which may be offered to coordinate the activity of
the project.
Vice-president of MGM Mirage has already visited Armenia, and the
talks with the company will be finished by the end of June.
As Armenian State Water Committee under Territorial Administration
Ministry told ArmInfo, at present the project on ending of the Egvard
basin is not watched.
The proposals on drawing out of the relevant project were submitted
to the government, but were declined because of shortage of funds.
From: A. Papazian
ArmInfo
2010-05-31 15:46:00
ArmInfo. Armenian Development Agency [ADA] has presented the
investment suggestion on construction of the hotel complex 'Masis,
Sis and new Armenia' on the bank of Egvard basin. The project,
which consists of 5 hotels and occupies 25 ha, will cost $500 mln,
$150 mln of which will be attracted like cash investments, the rest -
like credits. The mentioned $150 mln will be formed at the expense of
equal share investments by 50 participants in the project. According
to the preliminary data, the ending of the Egvard basin construction
will cost $70 mln.
'We think investors from Armenia and other countries of the world may
take part in the project', - the head of the investment project 'Masis,
Sis and new Armenia' Armen Vardanyan said and added the project may
be finished in 2015. 'In 2015 Armenians of the whole world will mark
100th anniversary of the Armenian genocide. We want this complex to
be able to receive numerous people which will arrive in Armenia to
commemorate the memory of out people's tragedy', - he said.
Construction of the hotel complex may last 3-4 years.
Director of ADA Robert Harutyunyan said at present they are negotiating
with MGM Mirage, which may be offered to coordinate the activity of
the project.
Vice-president of MGM Mirage has already visited Armenia, and the
talks with the company will be finished by the end of June.
As Armenian State Water Committee under Territorial Administration
Ministry told ArmInfo, at present the project on ending of the Egvard
basin is not watched.
The proposals on drawing out of the relevant project were submitted
to the government, but were declined because of shortage of funds.
From: A. Papazian