Armenian Foreign Minister Ararat Mirzoyan stated that a U.S. company will be responsible for the development of the TRIPP initiative for an initial term of 49 years, while Armenia will hold a 26% stake in the project.
"Armenia will offer the United States a 74% share in the TRIPP Development Company, retaining 26% for itself. This cooperation is expected to be extended for an additional 50 years, that is, unless either party objects, which is standard in such contracts. If both sides are satisfied with the cooperation and wish to continue, it proceeds. If not, and one party objects, it ends," he said, according to 1lurer.am .
According to Mirzoyan, after the initial 49 years, the agreement may be extended by another 50 years, with Armenia receiving an increased stake, raising its share to 49% through an additional property transfer by the Armenian government.
Thus, during the first 49 years, the United States will hold a 74% stake and Armenia 26%. If there are no objections to the extension, the cooperation will continue for another 50 years.
"In this second phase, from year 50 to 99, Armenia’s stake will increase from 26% to 49%," the minister explained.
Mirzoyan emphasized that under the TRIPP program, there will be no infrastructure, facilities, or areas that could restrict Armenia’s sovereignty or jurisdiction, according to Radar Armenia.
"The TRIPP Development Company will have a U.S. controlling stake. Nevertheless, there will be key issues where, even without a controlling stake, Armenia will retain oversight. That means there will be matters where, regardless of ownership percentage, nothing can proceed without Armenia’s consent," he added.
Armenian Foreign Minister Ararat Mirzoyan and U.S. Secretary of State Marco Rubio signed a joint document in Washington under the TRIPP project — Trump’s Route for International Peace and Prosperity — outlining bilateral cooperation between Armenia and the United States.
The published implementation document outlines the operation framework of the TRIPP. It does not create or intend to create any legal obligations or commitments for either Armenia or the United States.
