Karen Demirchyan Sports and Concerts Complex to continue operating the same way it did before its alienation
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YEREVAN, NOVEMBER 18, ARMENPRESS. Karen Demirchyan Sports and Concerts Complex will continue operating in the same way as it did before its alienation by the Government of Armenia. Minister - Chief of Staff of the Republic of Armenia GovernmentDavit Harutyunyan said the aforementioned when replying to "Rule of Law" Party MP Hovhannes Margaryan’s question during the question-answer with the Government held at the National Assembly of Armenia.
“As there is also an adjacent territory which has no direct connection to the Sports and Concerts Complex, the Government allowed the construction of a hotel complex which will have cinemas, restaurants, shops, other places of entertainment, a waterland. The amount of investments has also been established as the Government decided that only those companies which will make more than 100 million USD investments will have the right to build casinos in Yerevan,” Harutyunyan said.
Harutyunyan clarified that if the new owner of the Sports and Concerts Complex fails to fulfill the requirements of the contract it will serve basis for the Government to dissolve the contract or to fine the owner.
Minister - Chief of Staff of the Republic of Armenia Governmentnoted that the company with which the Government had signed a contract of the alienation of Karen Demirchyan Sports and Concerts Complex is registered in Armenia but has never operated in the territory of Armenia before. According to Harutyunyan, this is the reason that the Government suggested a contract with tougher conditions than usual.
