Republican Party MP Hermineh Naghdalyan, who also serves as the Vice President of Armenia’s National Assembly, seems to be pulling the right strings when it comes to winning lucrative government contracts.
Her company, SISIAN F&PA, Ltd., has again won a multi-million AMD road repair contract. The 452.2 million AMD (US$1.1million) contract, signed on May 22, is to repair the Yerevan-Yeraskh-Goris-Meghri stretch of highway linking Armenia to Iran.
In July of 2013, Naghdalyan’s company won a 409.2 million AMD contract to carry out repairs on sections of the very same Goris-Meghri highway, down to the border with Iran.
In essence, Naghdalyan is reaping a pretty profit every year by wining government contracts to repair the same stretch of highway. Her profit on this year’s contract is estimated to total 17.9 million AMD (US$43,300).
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 2013, Naghdalyan declared 376 million AMD in revenues.
Armenia’s “Mrs. Business” has financial interests in a number of other companies as well.