Armenian Foreign Minister Ararat Mirzoyan said negotiations on the documents required to implement the TRIPP project are nearing completion.
Speaking in the National Assembly during discussions on ratification of the framework agreement on strategic cooperation, Mirzoyan said the outstanding documents include the shareholders’ agreement and the charter of TRIPP Development Company.
The company will be established by the Armenian government and TRIPP Development Company USA, which, according to the minister, will remain exclusively owned and controlled by the U.S. government.
Under the planned ownership structure, Armenia will hold a 26% stake in TRIPP Development Company, while TRIPP Development Company USA will own 74%.
The arrangement will remain in place for 49 years, covering the period for which construction and operating rights for the infrastructure will be granted. The parties will then have the option to extend cooperation for another 50 years.
If the extension is agreed, Armenia’s stake will automatically rise to 49% without additional investment, while the U.S. company’s share will decrease to 51%, Mirzoyan said.
