“Syunik” airport to become a new international airport
Kapan’s “Syunik” Airport may be operated as an international airport.
During its session on January 22, the Government approved the draft of the fifth amendment to the concession agreement signed between the RA Government and “Corporación América S.A.”
The agreement was originally signed on December 17, 2001. According to Armen Simonyan, Deputy Minister of Territorial Administration and Infrastructure, the adopted changes remove the existing restrictions on “Syunik” Airport, and the term of the concession agreement is extended until the end of 2067.
The concessionaire undertakes to make investments of approximately 425 million USD, which will be submitted for government approval.
It is also established that upon the expiration of the concession agreement or in the event of its early termination, the airport and all its infrastructures must be returned to the government in operational condition.
Simonyan noted that this amendment creates such a legal opportunity because the airport is being exempted from the restrictions provided by the current concession agreement, which pertained to other airports located within a 250 km radius of “Zvartnots” Airport.
The investment program is expected to be completed by 2033.