Armenia’s economy minister declares TRIPP project "unstoppable"

Armenia’s Economy Minister Gevorg Papoyan has outlined a series of major investment initiatives, saying the TRIPP project is now unstoppable.

On February 9, Papoyan outlined ongoing and planned investments, including $120 million for the Vorotan hydro-cascade, the $200 million TRIPP project, a potential $500 million+ NVIDIA initiative, and developments in nuclear energy, Caliber.Az reports via Armenian media.

“Altogether, this amounts to an investment programme worth around one billion dollars, which is significant, and some of it is already underway,” he said.

Responding to questions about US interest in uranium deposits in southern Armenia, Papoyan described it as “an unprecedented case in Armenian history” and suggested that further investment programmes could follow. He noted that discussions would take place during the upcoming visit of US Vice President JD Vance, but added: “I do not have further details at this time.”

Papoyan also addressed concerns over a recent presidential order by US President Donald Trump, which could raise tariffs on all countries trading with Iran. “Last year, our exports to the US were approximately $50 million.

This could lose competitiveness if tariffs rise from 10% to 25%. However, I have learned about this from the press; the Ministry of Economy has received no official communication from the US. All relevant issues will be discussed with Vice President Vance. I assure you, the agenda includes more important and interesting topics.”

On the prospect of building a US-style modular nuclear power plant in Armenia, Papoyan said negotiations are ongoing with multiple countries, and the government will select the option that best serves Armenia’s national interests.

Regarding TRIPP, he was unequivocal: “TRIPP is now underway; from this point on, no one can stop it.” Asked whether Russia could participate, he confirmed that TRIPP involves only the US and Armenia. He also stressed that the Vice President’s visit would not address any anti-Iranian issues.

By Aghakazim Guliyev