GERARD L.GAFESCHYAN MUSEUM OF MODERN ART WILL BE CONSTRUCTED IN
ARMENIA IN 2007

YEREVAN, JULY 27. ARMINFO. Some $25 mln will be used for construction
of Gerard L.Gafeschyan Museum of Modern Art included in the Cascade
architectural complex. The construction is supposed to be started in
the autumn of the current year.

Talking to ARMINFO, PR-Coordinator of the Fund of Gasfeschyan Museum
Sirvard Karapetyan said that the construction of the upper area of the
Cascade, which is just partially repaired also depends on selection of
a definite type of architectural project of the museum. She said that
many design-orgnaizations have responded to the tender announced by
the fund, presenting their project of construction. The final results
of the tender will be announced in autumn, before beginning of the
construction works. It should be noted that one of the tender
participants, a Viennese COOP HIMMELBLAU, proposed that the museum be
constructed on the upper space of the complex. Two other companies
from the USA and Holland will complete with this company at the final
stage of the tender. The construction is supposed to be completed by
2006-2007.

A collection of the treasures of a prominent billionaire, Armenian by
origin, Gerard L.Gafeschyan (Glass Art), the glass works by such
artists as Stanislav Libenskiy and Yaroslava Brikhtova will be
exhibited at the Museum. The billionaire will present part of his
collections of the works of a famous Brazilian sculptor Fernando
Botero, whose work “Cat” made from black bronze decorates the lower
area of the Cascade.

It should be noted that Gafeschyan allocated $30 mln for constriction
of the Museum and exploitation of the whole complex Cascade, part of
these funds will be used to replace 20 escalators with new ones.