Investment program amounting to $100 million to be carried out in Karabakh

Former prime minister of Artsakh Ara Harutyunyan wrote in his Facebook page that big investments are expected in Artsakh in near future.
He wrote that during his recent visit to Europe he succeeded to successfully complete negotiations on implementation of investment program in Karabakh amounting to over $100 million.

“As a result, very soon construction of Sarsang right side water channel will launch by foreign investments. The construction will last for few years and will allow water reservoir ensure water self-flow via cascade to Martaket nearby fields creating 3 new water reservoirs and irrigating more than 10,000 ha lands. The so much expected program will become one of the biggest economic projects in Artsakh and guarantee the development of agriculture in the region,” he wrote.

He said that republic’s irrigation system needs big investments as there are up to 10,000 ha of not regularly irrigated gardens and fields which make about 10% of cultivated lands. He said with the new project the existing volume of irrigated territories will be doubled.

“We have also reached agreement with the investors to build new hydro power plant on the water supply cascade which will result in increase of electricity production promoting its export,” he said, adding that the investors will also contribute to the development of gardening in the country.
He said currently representatives of the company are in Karabakh discussing the terms of launching the program and some technical issues.

The former PM convinced that soon Martakert will become a blossoming zone where a number of cultivating companies with thousands of jobs will be founded.

He also said that Diaspora Armenians are also completing discussions of a number of benevolent programs and good news is still to come.