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Grisha Balasanyan

Armenia’s National Assembly VP “Wins” 409.2 Million AMD Road Repair Contract

On August 14, 2013, the Armenian government awarded a 409.2 million AMD road repair contract to a company owned by Hermineh Naghdalyan, the Vice-President of the country’s National Assembly.

Naghdalyan, a member of the ruling Republican Party, is the sole owner of the company in question – SISIAN F&PA, Ltd. (The company engages in motorway construction, earthwork operations, stone manufacturing and cargo transportation).

The Ministry of Transportation and Communications decided that the contract would be drawn up on a negotiations-based process and not on open bidding.

The original government outlay for the project was 416.7 million AMD.

Sections of the Goris-Meghri highway, down to the border with Iran, are slated for repair.

Within her close circle of friends, Naghdalyan is known as the “Mrs. Business”. In fact, she is the wealthiest female MP in the National Assembly.

In 2012, Naghdalyan declared 375 million AMD in revenues and 50 million AMD in cash holdings

Armenia’s “Mrs. Business” has financial interests in a number of other companies as well.