Eco-friendly community to be built in Armenia

Eco-friendly community to be built in Armenia

The ongoing projects that are being implemented in Armenia show that the country will have a boom in the innovative construction sector this year. As such, the plan of establishing a free production zone and founding a sustainable community within the framework of the “Build Armenia” project, is worth special attention.

The “Hayprospect” community will be the first in the region to be sustainable in environmental cleanliness, energy sufficiency, economic efficiency, and other terms. According to the plan, the large industrial-residential complex will include “Hayzone” production district (a free economic zone), the “Hayzone” customs warehouses zone, the high-tech research and development center “Haytech Park”, the agricultural research and development center “Hayranch”, a residential district for up to 10,000 residents, educational and healthcare facilities, and green areas. The project coordinators state that many businesses and educational institutions will be located there.

The industrial-residential complex will be constructed in the vicinity of Abovyan, Balahovit, and Arzni communities (Kotayk Marz).

Currently, the program is in the initial stage. The program initiators have purchased about 70 hectares of land, but they aim to extend the area further. They have started the logistical work, the excavation, and the setup of the construction base.  It is expected that the infrastructure of the industrial zone will be finalized by the end of the year.

So far, they have invested $6 mln in the project. The foundation expects to invest another $14-24 mln this year. As per the initial estimates, the cost of the whole project will be around $1 billion.

The Project initiators have noted that although they have their business objectives, the primary goal of this project is boosting repatriation.

The project of establishing a free production zone and founding a sustainable community is important in terms of creating job opportunities as well. The hiring process has started in May. As per the statement of the project founders, priority is given to the residents of Abovyan community and surrounding villages.

The Ministry of Economy of the RA is inclined to provide state support to this project. As an initial step, a Memorandum was signed between the parties on encouraging sustainable community building in Armenia and implementation of “Build Armenia”.

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