30 Billion Drams Investment: Casino and Ski Resort to Be Built in Aparan

A ski resort will be constructed in the Aparan community of the Aragatsotn region on a 2080-hectare site. The government approved the investment plan of "Mylerr Mountain Resort" LLC during its session today.

Acting Minister of Economy Vahan Kerobyan stated that the program will include the construction of a ski resort, as well as the opening of entertainment venues. "According to the plan, 30 billion drams will be invested, of which 15 billion drams will be invested by the company, and an additional 15 billion will be attracted from other private companies. The project will be realized in 2 years, and there will be about 250 workers in the construction sector. After the project is implemented, around 1500 permanent jobs will be created," Kerobyan said.

He noted that the ski resort will serve 500,000 tourists annually and can be competitive in both the Armenian and regional markets. Kerobyan indicated that the establishment of the resort will increase tourist flows from Russia, Iran, and Europe, and will boost Armenia's GDP by 0.2 percent.

Additionally, a casino and a cable car will be constructed in the area. According to the program's justification published on the government website, Armenia, as a destination for mountain tourism, is in a weak position in the region. The leading country in this sector is the Republic of Georgia, followed by the Republic of Azerbaijan.

Currently, there are 2 active leisure areas in Armenia (in Jermuk and Tsaghkadzor) offering mountain, particularly skiing, activities. Most tourists in these areas are citizens of the Russian Federation, followed by visitors from the Islamic Republic of Iran. Regarding pricing policy, a daily pass for the cable car in Tsaghkadzor costs 12,000 AMD (approximately 25 dollars), while in Georgia, it is 40 lari (around 15 dollars).