EURNEKIAN TO BECOME CONCESSIONAIRE OF FREE ECONOMIC ZONE AT ARMENIA’S ZVARTNOTS AIRPORT

ARKA
Dec 1, 2009

YEREVAN, December 1, /ARKA/. Argentinean-Armenian businessman Eduardo
Eurnekian will become the concessionaire of the free economic zone that
will be established at Armenia’s main international Zvartnots airport.

The news was announced by a deputy economy minister Vahe Danielian
on Monday during an informal meeting of heads of IT companies.

According to him, one of Eurnekian’s projects envisages establishment
of an agricultural logistical center close to the airport, which
will be dealing with delivery of agricultural goods to the airport
and their transportation to other countries by air and other ways.

Vahe Danielian said the terms of concession at Zvartnots airport will
not differ from terms at other free economic zones. But he added that
such zones should not affect Armenian producers.

The business project for establishment of free economic zone at
Zvartnots should be ready by the end of the year. According to
preliminary estimates, its implementation may cost up to $250 million.

The first stage is estimated at $50 million.

Eduardo Eurnekian’s American International Airports runs the
concessional management of Zvartnots airport. It also deals with
agricultural projects in Armenia and owns the Armenian Converse Bank.