Government Signs $210 Million Contract for World Trade Center Yerevan

The newspaper "Zhoxovurd" reports that on May 1, Minister of Economy Gevorg Papoyan and the General Director of "Renshin" LLC, Eduard Maryan, signed a contract for the urban development program of the World Trade Center (WTC).

A separate trilateral agreement has also been signed between the Government of the Republic of Armenia, "Renshin" LLC, and "Haypost" CJSC, which will create a closed joint-stock company called "World Trade Center Yerevan." The total value of the project is approximately $210 million.

The project plans to create conference halls for international forums, summits, and other events, a cultural platform featuring a concert hall, exhibition spaces for contemporary artists, an EXPO hall, and a business center to promote new startups and initiatives. This new location aims to transform from a place that guests might bypass into a must-visit site.

Consequently, a large complex building will be established in the middle of Saryan and Paronyan streets instead of the current Haypost building located at Saryan 22. It is worth noting that "Renshin" LLC operates under the sponsorship of Deputy Prime Minister Mher Grigoryan. Although Grigoryan himself does not confirm these reports, the contracts periodically signed with "Renshin" LLC indicate otherwise.