$100,000,000 dollar canal to connect Sarsang reservoir with Martakert in major Artsakh foreign investment deal

YEREVAN, NOVEMBER 14, ARMENPRESS. Soon the construction of a canal on the right bank of the Sarsang Reservoir will kick off with foreign investments in Artsakh. The canal will enable to transfer the water using gravity flow through a cascade to the fields adjacent to Martakert region – creating 3 new reservoirs and allowing more than 10,000 hectares of land to get irrigated, President of Artsakh Bako Sahakyan’s advisor and special envoy Arayik Harutyunyan said on Facebook.

He said that more than 100 million USD will be invested in the project.

According to Harutyunyan, the talks on the deal were carried out during his visit to European countries recently, and were successfully completed after intensive discussions.

“A project we’ve been waiting for a long time, and which, in my opinion, will become one of the largest projects of Artsakh’s economy and the guarantor for agricultural development of the area,” he said.

He said that an agreement was reached with the investors also on constructing hydro power plants on the cascade.

Stakeholders of the investing company will also have participation in the development of gardening, he said.

Harutyunyan did not reveal who the investors are, but said that they aren’t Armenians. Representatives of the company are presently in Artsakh and are discussing technicalities.

Edited and translated by Stepan Kocharyan