“Armenia Wine Company” will receive a land plot and a dilapidated boiler house from the territory of "Yerevan Musical Special School No. 13" SNCO to establish “Digitown” International Center for Innovative IT Technologies, according to the decision of the government.
Suren Papikyan, Minister of Territorial Administration and Infrastructure of Armenia, presenting the issue “On taking back and alienating property”, informed that “Armenia Wine” factory LLC is implementing an investment program at 11/1 Isakov Street, Yerevan, building “Digitown” International Center for Innovative IT Technologies. According to preliminary assessments, $40 million will be invested and 5,000 jobs will be created for the project implementation.
“The company has requested to alienate the 9053 square meters land and the dilapidated boiler house, located in the territory of "Yerevan Musical Special School No. 13" SNCO to the company for program expansion. In case of alienation of the property, the company will allow the students of the SNCO to use the stadium belonging to the latter for free”, the Minister said, adding that in case of acquiring the property, the company will invest one billion Armenian drams.
