An Armenian company Mayler Mountain Resort will build a new ski resort in the village of Yeghipatrush in Aragatsotn region. The new resort is believed to be able to compete not only with other ski resorts of Armenia, but also with those in other regional countries by attracting tourists from Russia, Iran and Europe.
The Armenian government approved today the company’s investment program worth 30 billion drams (about $60 million).
According to the acting Minister of Economy Vahan Kerobyan, Mayler Mountain Resort will invest 15 billion drams of the indicated amount, and the rest will be invested by other private investors, ARKA reports.
He said the resort will have a total area of 2,080 hectares and will serve 500 thousand tourists a year and will be able to compete not only with other ski resorts in Armenia, but also with those in other regional countries by attracting tourists from Russia, Iran and Europe.
The construction of the new ski resort that will involve some 250 workers is to be completed in two years. It will hire 1,500 personnel and pay an average salary of 180 thousand drams, according to the minister.
The implementation of the project will increase Armenia's GDP by 0.2%, said Kerobyan, adding that out of the total amount of the investment, about $27 million will be spent on the construction of cable cars, $8 million on the creation of an enterprise for the production of artificial snow, and about $7 million on the construction of a casino.
However, the acting Finance Minister Atom Janjughazyan noted that the construction of a casino will cause some difficulties.
"There are legislative restrictions in Armenia - casinos can be built in three regions - Sevan, Tsaghkadzor or Jermuk, or in another location given that its construction is worth 40 billion drams and more while the cost of the Yeghipatrush resort is 30 billion drams,” he said.
However, Kerobyan suggested that the project should be considered as a whole as it may actually create a new town.
