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Armenia intends to offer the United States a 74% share and to hold itself a 26% share in the TRIPP Development Company.
Armenian Foreign Minister Ararat Mirzoyan, speaking at a press conference, described the share distribution as “fair.”
“This is the result of negotiations and reflects the investments of the countries involved. The United States will make large-scale investments, while the main contribution from Armenia will be the development right. It is a very fair distribution. We are talking about the next 49 years; after that, the proportion of shares will change and become nearly equal,” Mirzoyan said.
Mirzoyan and U.S. Secretary of State Marco Rubio met in Washington ahead of the publication of the TRIPP Implementation Framework.
The TRIPP is to be developed within designated transit routes in Armenian territory, in locations to be detailed in the future, while maintaining Armenia’s full sovereignty over all project areas within Armenia’s sovereign territory. The TRIPP Development Company, with U.S. controlling stake and Armenian oversight of reserve matters, is intended to ensure the development and implementation of the TRIPP infrastructure.
Armenia intends to authorize and facilitate the establishment of the TRIPP Development Company. The company is expected to be responsible for the development of the TRIPP and is expected to be granted the right to development for an initial term of 49 years. Armenia intends to offer the United States a 74% share and to hold itself a 26% share in the TRIPP Development Company. This arrangement is expected to be extended for an additional term of 50 years with a grant of additional equity to the government of Armenia bringing its share to 49%.