Funds Allocated to Tsaghkadzor from Golden Palace Auction to be Directed Towards Wastewater Treatment Plant Construction

The funds allocated to the community from the upcoming auction of the Golden Palace in Tsaghkadzor will be directed towards the construction of a city wastewater treatment plant and internal sewer network. According to Armenpress, this was stated by Kotayk Province Governor Romanos Petrosyan during the preliminary discussion of the annual report on the execution of the Republic of Armenia's state budget for 2019 at the joint session of the National Assembly's permanent committees.

The governor mentioned that he wants to reveal a secret related to the auction of the hotel. "According to legislation, 1/3 of the funds generated from the auction of such state property is allocated to the community, while 2/3 are transferred to the state budget. As a result of this process, the amount allocated, which I estimate to be around 5-6 million dollars, will be fully directed towards the construction of the city wastewater treatment plant and internal sewer network in Tsaghkadzor," Petrosyan said, noting that there is already an agreement with the community.

Currently, there are about 52 operating hotels in Tsaghkadzor. Only a couple of them are equipped with septic tanks, while the others are either connected to the city's general sewer system—which, due to the absence of a treatment plant, ends up discharging into the river after a long journey—or solve the issue through local wells.