Armtech Announces Deals Between Builder, Armenia

Armtech International, a Sherman Oaks investment firm that specializes in brokering business deals between American companies and the Commonwealth of Independent States, said it has received approval from the Republic of Armenia for three projects in the former Soviet republic.

It said it has signed a contract with Armenia and Pacific Hotel Associates, a Santa Monica developer, for three projects in Armenia’s capital city of Yerevan that will cost a total of about $8 million.

The proposed projects include conversion of a dormitory into a 187-room hotel and convention center, a resort complex on Lake Yerevan between the city’s airport and downtown area, and a 120,000-square-foot world trade center building.

Armtech said it is trying to secure financing for the projects.