$30-Million Credit to Be Provided for Modernizing Zvartnots Airport

PanARMENIAN.Net
08.07.2006 14:45 GMT+04:00

/PanARMENIAN.Net/ To modernize Zvartnots Yerevan Airport the
European Bank for Reconstruction and Development (EBRD) and German
Investment and Development Company (DEG) will provide a credit of $30
million. According to Press Secretary of the Central Board of Civil
Aviation of Armenia Gayane Davtyan, the credit will be mostly spent
at enhancing passenger service quality.

According to a contract between the Government of Armenia and
Argentinean Corporation America, Zvartnots Airport was conveyed for
concession management of International Airports Armenia company. The
latter plans to invest $253 million within 30 years, which will
result in the airport acquiring B category instead of the current
D. $63 million will be spent on construction works of the terminal,
which will annually serve 2 million passengers. By 2011 it is planned
to build a registration hall, after which the function of the current
airport will be met in the new building, reports IA Regnum.