New details have been revealed about the TRIPP project planned to be implemented in Armenia.
Modern.az reports that Armenian Foreign Minister Ararat Mirzoyan stated that within the framework of the project, the US company TRIPP Development will acquire land use and construction rights in certain areas.
He added that the rights granted to the company will be valid for an initial period of 49 years. The distribution of shares is envisioned as follows: 74 percent will belong to the US side, and 26 percent to the Republic of Armenia.
After the initial 49-year period expires, there is also the possibility of extending the agreement for another 50 years based on the agreement of the parties. In this case, Armenia's share in the company is planned to be increased to 49 percent.
