$38.2 million will be spent on the modernization of Shirak and Zvartnots airports in Gyumri and Yerevan, Armenia, respectively.

The issue will be discussed at a cabinet session on Thursday, December 27.

When approved, the project initiated by the concessionaire of both airports will seek to ensure ICAO safety standards, the airport capacity will be made consistent with the expected increase in passenger traffic and reach the level of service equating to IATA level C, improving the security level and meeting international new standards.

Under the master plan for 2018-2022, the gatehouses of the airports in question will be expanded in case passenger traffic grows faster than expected.

Also, the runway will be repaired, as well as the fuel station will be modernized and technical equipment will be inspected.