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US will receive controlling stake in joint venture with Armenia

14 January 2026 03:45 (UTC +04:00)

The United States will receive a controlling stake in the Armenian-American joint venture to implement the Trump Route for International Peace and Prosperity (TRIPP) communications project, according to a joint statement released by the State Department press service following a meeting in Washington between U.S. Secretary of State Marco Rubio and Armenian Foreign Minister Ararat Mirzoyan, APA reports.

It follows that the parties agreed to establish a joint venture, the TRIPP Development Company. As emphasized in the document, the company, "in which the United States will hold a controlling stake," is intended to "ensure the development and implementation of infrastructure" within the TRIPP project.

TRIPP Development Company will receive rights to develop transport infrastructure for a period of 49 years, with the agreement potentially extendable for an additional 50 years. The document emphasizes that Yerevan will oversee the enterprise.