A delegation from the American engineering and infrastructure company AECOM visited Armenia for the third time to study the territories where the TRIPP project is planned to be implemented. Specialists, together with representatives of the Armenian government, surveyed future construction sites for the railway and other transport infrastructure facilities.

As reported by the US Embassy in Yerevan, the design work should contribute to economic development, improved transport connectivity, and strengthened regional integration.

The TRIPP project developed after Armenia and the United States signed a framework agreement. Earlier, the Board of Directors of the US International Development Finance Corporation (DFC) approved the creation of TRIPP Development Company — a joint venture between the two countries, which is part of DFC's strategic investment package totaling $2.5 billion.

The new structure is intended to develop transport routes, trade, and economic ties in the South Caucasus, as well as expand the international and domestic infrastructure network.

According to preliminary plans, TRIPP Development Company will receive the initial right to implement the project for a period of 49 years. It is assumed that the United States will own 74% of the joint venture, and Armenia's share will be 26%. If the agreement is extended for another 50 years, the terms of participation of the parties may be revised.