The ‘mythical’ plan for Gyumri fell apart: The Armenian business owner from Africa freezes investment project

Khachatur Sargsyan, the director of the Armon LLC, who promised air transportation to the residents of Gyumri, is a native of Gyumri but has lived in Tanzania for many years. He presented an application to the Gyumri municipality asking to freeze his investment project.

The head architect of Gyumri, Henrik Gasparyan, spoke about this with Aravot Daily in response to our question about whether or not there were business owners who stopped all plans for their investment projects.

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The people of Gyumri initially laughed at this project, called Sky Gyumri, which was to provide aerial tramways to the city, especially when they found out that the investor was the same person who presented a plan to introduce crocodile breeding in the Ararat Province.

The business owner personally presented his plan in July of last year, which also included details about all the stops and the entire aerial tramway system with its infrastructure. He spoke so glamorously about it that the mayor of Gyumri, Samvel Balasanyan, feeling inspired, called it a ‘mythical’ project.

The fairytale fell apart, it seems, suffering the same fate as the crocodile breeding project.

The business owner from Africa also froze his investment plans for the crocodile breeding project, saying that it would not be effective from a business perspective.

Nune Arevshatyan

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