Yerevan, February 24 – The Yerevan Municipality is implementing a new funding model for its transport infrastructure, which involves integrating a new metro station with commercial spaces to alleviate the budgetary burden. This innovative approach aims to partially offset construction costs through profitable business ventures, following the successful example of the “Surmalu” station.
Investment Package for Ajapnyak Station in Final Stage
During a working meeting held on February 23, it was announced that the tender for the development of an investment package for the area adjacent to the “Ajapnyak” station has entered its final phase. Aneta Babayan, Head of the Yerevan Construction Investment Programs Implementation Office, reported that out of seven applicants, two companies have been qualified. These companies are required to submit their comprehensive proposals by March 3.
Project Logic: Profitable Business Center to Fund Metro
The project, modeled after the “Surmalu” station, involves the development of a “business case” and a technical-economic justification. This will form the basis for the final contract. Mayor Tigran Avinyan emphasized that the core logic of the program is to establish a profitable business center within the station area. This center will enable the partial recovery of construction expenses, thereby reducing the financial strain on the city’s budget.
Construction Timeline and Budget Reallocation
According to preliminary forecasts, the main construction work for the Ajapnyak metro station could commence in mid-June. However, the exact dates for the tender of the station’s construction itself are still being clarified. Deputy Mayor Armen Pambukhchyan stated that the construction tender will be announced either this year or next.
Significantly, the budgetary allocations for the project underwent substantial changes at the end of last year. From an initial 9.6 billion drams, only 1.6 billion drams remained for the “Ajapnyak” station. The saved 8 billion drams were reallocated to modernize urban transport, specifically for the acquisition of 45 new trolleybuses. These new trolleybuses are expected to arrive in Yerevan during the first months of 2026.
Broader Context of Yerevan’s Development
This initiative is part of Yerevan’s broader efforts to improve its infrastructure and public services. The city is continuously seeking innovative solutions to finance large-scale projects and enhance urban mobility. The integration of commercial elements into public transport infrastructure is a strategy gaining traction globally, allowing cities to leverage private investment for public good.
The successful implementation of the Ajapnyak station project could serve as a blueprint for future infrastructure developments in Yerevan, fostering economic growth and improving the daily lives of its residents. The focus on sustainable funding models and modern transport solutions underscores the city’s commitment to progress and efficiency.
