July 18, 2019 - 14:21 AMT
40,000 capacity stadium in Yerevan draws $300 million investment

Deputy Minister of Education, Science, Culture and Sport Gevorg Loretsyan has revealed that a national Stadium with a capacity of 35,000-40,000 will be built in Yerevan and is set to comply with international standards.

“I left for the United States in late April to negotiate the matter with a possible investor,” Loretsyan said in a Facebook post.

“An official proposal has already been sent to the Ministry of Education, Science, Culture and Sport.”

According to the Deputy Minister, the investor is ready to make investment worth as much as $300 million to build a UEFA Category 4 stadium in Armenia.

Though it was initially decided to build the national stadium in one of the provinces, Loretsyan said the facility will be constructed in Yerevan to allow the Armenian capital to host top-level international fixtures, such as the European Cup or European Championship matches.