ARMENIA’S PRESIDENT HOPES FOR FURTHER COOPERATION WITH LINCY FOUNDATION

ARKA
Sep 29, 2008

YEREVAN, September 29. /ARKA/. At his meeting with reporters following
the opening ceremony for the Saralanji highway in Yerevan, RA President
Serzh Sargsyan expressed hope for further cooperation with the Lincy
Foundation.

The six-km-long highway consists of a number of transport nodal
points (four crossings, an overpass, a bridge and a tunnel). The
Lincy Foundation has invested 6bln AMD in the construction.

"I thank the Lincy Foundation and the philanthropist Kirk Kerkorian,
and hope the Foundation will continue its activities in Armenia,"
said the President.

The RA President attaches high importance to road construction as
well as to the school and road renovation program in Yerevan.

"The schools construction program has afforded our children
an opportunity to attend schools which have no equals in the
region. Provided with modern equipment, these schools make it possible
to organize the education at the highest level," President Sargsyan
said.

He stressed the road construction and renovation programs in Armenia
are very important and large-scale ones as well, and are aimed at
relieving the traffic and making streets more comfortable for citizens.

The Lincy Foundation is financed by Armenian-American businessman,
multimillionaire Kirk Kerkorian. The Lincy Foundation implemented
its first program worth $150mln in Armenia in 2001-2003.0D

A $60mln worth second program is underway comprising three projects
worth $20mln each – road construction, renovation of Yerevan streets
and schools.