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Two scenarios for land lease are being discussed: 99 years and 49 years. Pashinyan on “TRIPP”

At the conference entitled “Crossroads of Peace: Developing Regional Communications and Cooperation,” Prime Minister of the Republic of Armenia Nikol Pashinyan stated that a jointly established Armenia-U.S. company will be created for TRIPP, in which the Republic of Armenia will have a decisive vote on issues of strategic importance.

He noted that TRIPP is an economic project: “People usually make investments in order to recover that amount and receive a certain reasonable percentage of profit.” According to the Prime Minister, “The particular feature is that after the expiry of the development (construction) right, the property located on the land becomes the property of the Republic of Armenia. The land itself is and will remain the property of the Republic of Armenia.”

He emphasized that two scenarios for land lease are currently under discussion: a 99-year lease and a 49-year lease.

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