Armon company suggests launching an air tram in Gyumri as part of a $500,000 development plan for Armenia’s second largest city.

The project of a 25km-long tramway has been developed by Khachatur Sargsyan, a native of Gyumi, who has long been doing business in Africa.

The businessman is planning a similar project in Africa, but cannot leave because of the pandemic. He has persuaded investors to invest part of the funds in Armenia.

Speaking to Public Radio of Armenia, Sargsyan said “what the world lakcs today is a good idea.”

“Investors will never come and ask you “where shall I invest? To atract investors, it’s necessary to have an idea and prove to the investor that he will get the money back,” the businessman said.

With a speed of up to 500 kmh and 6-10 meters above the ground, the air transport will connect 15 stations 50 m to 2 km away from each other.

Besides the tramway, the development plan envisages an eco-district for about 2,000 residents with all infrastrctures.

The project will be presented to public on July 2.