Time in Yerevan: 11:07,   5 March 2024

Armenia Engineering City expected to boost international appeal in high-tech sector

Armenia Engineering City expected to boost international appeal in high-tech sector

YEREVAN, JANUARY 18, ARMENPRESS. The Engineering City is enabling IT companies to work under one roof and have access to the kind of equipment that aren’t easy to acquire, Minister of High-Tech Industry Robert Khachatryan told ARMENPRESS.

“At the Engineering City, experts have the chance to work together, speak about their ideas and solve problems through united efforts. The construction of the territory envisaged for the Engineering City was completed in 2022. We can state that we have a renovated area which is designed for building small offices of individual companies, the entire infrastructure is in place, gas, water, energy supply, paved roads. The landscaping work will follow the construction. In this regard Armenia will become even more attractive for international companies,” the minister said.

The project’s budget is $21,000,000, of which $10,500,000 will be financed with the loan resources provided by the World Bank.

A bidding process is open for Land Improvement and Infrastructure Development. The equipment of the Engineering City has been acquired and installed. The licensing commission confirmed 11 companies as residents [tenants]. Three of these companies have already launched construction of offices.

The process of application admissions from engineering and IT companies for residency status continues.

The Engineering City is an environment created for engineering companies in the high-tech sector with the purpose of facilitating and accelerating the development of complex engineering solutions.

It is a platform where engineering, science, and education come together to tackle the advanced engineering challenges of the 21st Century.

It provides a full range of advanced equipment, research and prototyping labs, machine tooling and production facilities that are accessible to all the resident companies.

 The Engineering City Project is a Public-Private Partnership between the Government of Armenia and a Consortium of Private Companies.

 








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