A new hotel complex has already been put into operation within the framework of the joint investment project of the State Interest Fund of Armenia – ANIF and the Apaga Projects company, construction works on the territory of Yell Extreme Park and Apaga Resort are nearing completion, and all new services will be available to the public soon, ANIF informs.
Entrepreneur + State Investment Manager CJSC, a subsidiary of ANIF, invested $1.6 million in Apaga Projects CJSC.
Director of Apaga Projects company Tigran Chibukhchyan says: “This is an example of effective cooperation between the public and private sectors, which, along with the business vision, has great social significance. It is aimed at the development of the rural community and the improvement of community life. All our initiatives stand out for courage and innovation, and we will continue that way.”
According to Bella Manukyan, director of the Entrepreneur + State fund, one of the most effective ways of investing state funds is to invest in successful and profitable business projects. “We are sure that our investments in Apaga Projects will not only contribute to the development of this already established brand, not only create new jobs, but will also play a significant role in the direction of more global targets, the modernization and development of the tourism sector. Promotion of such programs is one of the goals of the fund,” she said.
Apaga Projects coordinates two projects in Yenokavan community in Tavush region: Apaga Resort hotel complex and Yell Extreme Park. The company’s two projects are a successful example of developing tourism infrastructure and creating new economic opportunities in rural communities.
The cooperation between ANIF and Apaga Projects was aimed at the construction of a new zipline of about 2.5 km in length at Yell Extreme Park and the introduction of a new sports entertainment platform, as well as the infrastructure of the Apaga Resort hotel complex. As a result of the project, Yell will be able to increase capacity and nearly double the number of permanent jobs it provides.