The United States will hold a 74% stake in the TRIPP development company, while Armenia will retain a 26% share, Armenian Foreign Minister Ararat Mirzoyan announced at a press conference.
Mirzoyan said the ownership structure is the result of negotiations and reflects the respective contributions of the two sides. According to him, the United States will make substantial financial investments, while Armenia’s main contribution will be the provision of development rights.
“This is a fair distribution,” Mirzoyan said. “It is the outcome of negotiations and reflects the investments of the countries involved. The United States will make large-scale investments, while Armenia’s key contribution will be the right to development. Overall, this is quite a fair arrangement.”
The agreement covers an initial period of 49 years. After that term, the shareholding structure is expected to change and become nearly equal, Mirzoyan noted.
It is anticipated that after the initial 49-year period, the cooperation will be extended for an additional 50 years, with the Armenian government receiving additional ownership rights, increasing Armenia’s stake to 49%.
The TRIPP is intended to establish unimpeded, multimodal transit connectivity on the territory of Armenia, contributing to regional peace, stability, and integration on the basis of respect for sovereignty, territorial integrity, and jurisdiction of the states. While connecting the main part of Azerbaijan and its Nakhchivan Autonomous Republic and creating a vital link in the Trans-Caspian Trade Route, it is expected to generate reciprocal benefits for international and intra-state connectivity for the Republic of Armenia.