Tsarukyan to fund Olympic center project in Armenian resort

President of the National Olympic Committee of Armenia Gagik Tsarukyan has announced a plan for funding an Olympic center development project in a sporting resort.

A new superpowerful and ultramodern sporting complex will be constructed in Tsaghkadzor (Kotayk region) based on a local branch of the Yerevan State Sports College of Olympic Reserve.

The Committee’s secretary general, Hrachya Rostomyan, had earlier invited specialists to hear also their proposals. The new complex will be equipped with state-of-the-art facilities, sporting grounds and gyms adjusted to different trainings and sporting events.

It will also have a recreation and leisure zone with vast parks, a cinema hall, and special rooms for rest.

The entire center will have a total area of 3 hectares.

Tsarukyan has promised invest 25-30 billion Armenian Drams (about USD 60 million) in the project.