Reconstruction works of the main building of Gyumri Technopark will be launched already in a month, Armenian Minister of Economy Tigran Davtyan said.

On April 26, Armenian government confirmed the results of the contest in the framework of E-Society and Innovation for Competitiveness (EIC) Project, implemented by loan agreement between Armenia and the International Bank for Reconstruction and Development (IBRD).

The loan agreement stipulates over AMD 1,67 bln for Technopark reconstruction works.

“We will enjoy a modern technologies center with a relevant infrastructure in 18 months,” adviser to RA Minister of Economy Vahe Danielyan told a press conference.

Sitronics Armenia will become the organizer of the first economic zone formation in Armenia, with the relevant agreement having been reached today, April 26 by Minister Davtyan and Sitronics Armenia company’s executive director Armen Khachatryan.

The free economic zone will cover the territory of RAO MARS CJSC and Institute of Mathematics of Yerevan.

JSC Sitronics is a major organization present in the developing markets of Eastern Europe, Middle East, Africa, operating in IT and microelectronics sectors.