$130 MILLION TO BE INVESTED IN CONSTRUCTION OF ARMENIAN ZVARTNOTS AIRPORT’S TERMINAL

ARKA
Feb 22 2008

YEREVAN, February 22. /ARKA/. Armenia – International Airports Company
intends to invest $130 million in the construction of Zvartnots
airport’s second terminal, Armenian State Aviation Department Chief
Artem Movsisyan said Friday presenting Zvartnots exploitation master
plan at a governmental briefing.

"Another $26 million will be spent for fire protection in the airport",
he said.

Movsisyan said that the construction is prompted by growing number
of passenger carriage.

The national aviation chief also said that Zvartnots served 1.4 million
passengers in 2007 though it was planned to reach this result only
in 2015.

"The new passenger terminal will be constructed in front of the old
round terminal being exploited now. The terminal’s area is 25 000
square meters, of which 3 600 will be a new passenger registration
hall. The area of the old terminal’s hall is 900 square meters",
Movsisyan said.

He said that the number of registration points from present 21 to
future 42 and checkpoints from 12 to 25. Two baggage carriers will
operate instead of one functioning g now.

He said special attention will be paid to fire protection and seismic
protection in the building construction.

Zvartnots Airport was handed over to Armenia – International Airports
CJSC for 30-year concession management. The agreement between the
company and Armenian government was signed in 2001.

The company owner is a New York holding. 100% of this holding’s
shares belong to Eduardo Eurnekian, Argentine entrepreneur of Armenian
descent.