The Armenian government today approved the sale of a piece of land in Yerevan to Armenia Wine Factory LLC.

The company says it plans to invest US$40 million at the site to build a high-rise Digitown International Center for Innovative IT Technologies.

Armenia Wine says the project will create 5,000 new jobs.

The site, at 13/12 Isakov Avenue now houses the boiler room and land adjacent to Yerevan Music Special School No. 13.