To the delight of all owners of coastal recreation areas, restaurants and cafes, Arpa-Sevan tunnel will be closed for reconstruction works, and the water of lake Sevan will not be able to rise; it will even decrease by 20 cm by this winter! The tender for work implementation won the same named company Arpa- Sevan, which offered the lowest price- 11.8 billion AMD (about $32 million).Financing of the reconstruction works will be implemented by the Government of Armenia with support of Development found of Abu-Dhabi, OAE. The construction of 48.2 km Arpa-Sevan tunnel was started in 1961 and completed in 1981. The main contractor was "Arpasevanshin" company, which was the predecessor of Arpa-Sevan company. After commissioning of Arpa-Sevan tunnel, as an extension of Sevan lake rescue project Vorotan tunnel was built ( 21.6 km) to transfer water from Vorotan river to Arpa river. The renovation comes in handy not only for off-shore entrepreneurs, but for Government as well, because it will gain time to correct past mistakes.
Water level rising to 1901m mark above the sea (it is provided to raise it to 1903, 5m+ 1,5m for waves by 2032), caused unpredicted serious problems with coastal flooding. It is unclear how forests, pipelines, buildings and the roads were under the water and why water inflow from Arpa-Sevan tunnel and releases from the lake were not regulated to prevent that? The State suffered enormous damage, as cleaning already flooded areas will cost much more. In early 80's integrated activities were developed for gradually coastal cleaning up (to the extent of flooding) to 1905 m from buildings, trees and other vegetation, as well as total demolition of fertile topsoil. There was provision for creating new forests on new, higher marks, and constructing new roads and buildings.
Note that lake Sevan before the drawdown of its water resources had high water quality and a unique fish fauna, consisting only of valuable fish species. As it was correctly forecasted even 40-50 years ago, at current low water level Sevan will transform from "trout" lake into the "carp" and later into the swamp! To save the lake it should risen at least to 1903.5 m, and has to be accompanied with the full implementation of all envisaged activities for bottom clearance, as increasing the level without cleaning will lead to the opposite-swamping result.
Property Development Company CJSC announced the launch of the construction of "Kamar" multifunctional business center in Yerevan by laying its foundation stone on November 6. The business center, designed in accordance with the most advanced international technologies, will be the first in Armenia to be certified by BREEAM (Building Research Establishment Environmental Assessment Method), a global leader in the design and assessment of sustainable buildings based in the UK. The development of the unique "A" Class office building will comply with the modern energy efficiency and environmental standards, thus considerably elevating the overall standards of the commercial real estate in the country.
Property Development Company CJSC, the owner of the building, has approached to the project with ultimate responsibility and care, highly prioritizing the buildings in this historical area. For several years before the start of construction works, the company has been organizing various public discussions with experts and beneficiaries to identify the most appropriate solutions and to insure high level of transparency throughout the entire process.
The initiative started at least 5 years ago. Right at the beginning of the project the company organized an open architectural contest for the development of the concept by involving the best and most recognized engineers and architects from various countries. Committed to preserving the values of Armenian history, they have stored every single stone from the old building. Company further developed an architectural and engineering solution that highlights the historical importance and overall design of this part of the city. The main problem is that the complex should combine innovative solutions with the old constructions.
The total value of the project is about US$ 37 million. IFC, a member of the World Bank Group, will provide a US$ 9 million loan and secure another US$ 9 million loan from DEG (Deutsche Investitions und Entwicklungsgesellschaft mbH). The rest of the investment will be provided by Property Development Company CJSC.
As news.am reported, Head of Government-Affiliated State Property Management Department Arman Sahakyan stated, that "Dvin" and "Sevan" Hotels Construction to be completed.
During press-conference Arman Sahakyan said, "Dvin" hotel will be reconstructed by 2014, or even earlier. And the basis for this optimism is the new commitments which the Hotel's proprietor has assumed. According to these obligations, if the proprietor does not carry out the investments specified in the contract, it will have to pay ten percent from the sum of unfulfilled investments, as a penalty.
"Dvin" hotel was sold in 2003 to Caucasian Communication Group for US$ 3 million. The buyer had pledged to build a 5-star hotel in five years and to invest US$ 30 million; but no essential investment is made so far. And finally, if Dvin Hotel is not reconstructed, the Government of Armenia reserves the right to take its possession by court order, after 2014.
During press-conference Arman Sahakyan also hoped, that reconstruction of "Sevan" hotel will reach its logical end. The hotel was sold in 1996 to "Carousel Establishment Company", which belongs to British-Armenian businessman Vache Manukian. Even though the buyer was obliged to rebuild the hotel in five years, it remains in dilapidated condition. During his visit to Yerevan in late September, Vache Manukian discussed the hotel's fate with Yerevan's mayor, Karen Karapetyan. Apparently, Manukian does not want to build a hotel, but rather a cultural or a business center. However, he has not reached a final agreement with municipal authorities so far.
