The TRIPP Development Company will be established in Armenia as a joint-stock company by Armenia and the TRIPP Development Company (USA), which is to be established in the United States.
Foreign Minister Ararat Mirzoyan made the remarks at a meeting of the Standing Committee on Foreign Relations of the National Assembly of Armenia, presenting the draft law on ratifying the Framework Agreement on Strategic Partnership between Armenia and the United States concerning the TRIPP (Trump Route for International Peace and Prosperity) project.
“The TRIPP Development Company (USA) must remain owned by the United States government at all times and cannot be divested or involve any third party,” the Minister explained, noting that the U.S. government’s signature and commitment on this matter are in place.
Under the shareholding arrangement, the United States will control 74% of the shares in the Armenian company, while Armenia will hold 26%. This arrangement will remain in effect for 49 years.
Upon expiration of that term, Armenia’s shareholding will increase to 49%, without any additional financial or other contributions from Armenia, while the TRIPP Development Company (USA) will hold 51% of the shares.
