To modernize Zvartnots Yerevan Airport the European Bank for Reconstruction and Development (EBRD) and German Investment and Development Company (DEG) will provide a credit of $30 million. According to Press Secretary of the Central Board of Civil Aviation of Armenia Gayane Davtyan, the credit will be mostly spent at enhancing passenger service quality.
According to a contract between the Government of Armenia and Argentinean Corporation America, Zvartnots Airport was conveyed for concession management of International Airports Armenia company. The latter plans to invest $253 million within 30 years, which will result in the airport acquiring B category instead of the current D. $63 million will be spent on construction works of the terminal, which will annually serve 2 million passengers. By 2011 it is planned to build a registration hall, after which the function of the current airport will be met in the new building, reports IA Regnum.
