YEREVAN /ARKA/. A delegation from the global infrastructure con- sulting and engineering firm AECOM visited Armenia for the third time to survey the area where the TRIPP proj- ect will be implemented, the U.S. Em- bassy in Yerevan reported. “The AECOM team, together with partners from the Armenian govern- ment, surveyed the TRIPP project area with the aim of designing a railway and other infrastructure facilities. This will promote economic growth, con- nectivity, and regional integration,” the embassy said in a statement. About the TRIPP project On June 4, the Armenian Minis- try of Foreign Affairs announced the signing of a framework agreement be- tween Armenia and the United States on TRIPP, initialed on May 26 during the visit of the U.S. Secretary of State to Yerevan. A day earlier, the Board of Direc- tors of the U.S. International Devel- opment Finance Corporation (DFC) approved the creation of the TRIPP Development Company, a joint ven- ture between the United States and Armenia. The project is part of DFC’s $2.5 billion package of new strategic investments. TRIPP Development Company is intended to promote trade, transport, and economic development in the Caucasus region, as well as expand international, interstate, and domestic transport connectivity. Armenian authorities previously stated that TRIPP Development Com- pany would receive an initial 49-year right to implement the project. The plan is to offer the US a 74% stake in the joint venture, with Armenia retain- ing 26%. If the agreement is extended for another 50 years, the shareholding ratio is expected to change.