YEREVAN, NOVEMBER 7, ARMENPRESS: Prime minister Margarian was present at the inauguration of a new trade and cultural complex in downtown Yerevan erected near a cinema that was called under the Soviets Rossiya (Russia in Russian) and was later renamed Ayrarat.
Incidentally, the new trade and culture center is called Rossiya. It was erected by SIL Concern that had received a $5.2 million credit from the International Financial Corporation (IFC). The construction of the first wing of the center cost $12 million.
The entire project is estimated at $30 million and is supposed to be finished in five years. Traders selling their goods in Ayrarat cinema house that has been turned into a fair will move to the new center when it is completely built.
The CIL is set to launch construction of an 8-storied complex next week. Four storeys will be given to traders and the other four will be offered as office space.
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