YEREVAN. - Swiss investors want to open an integrated home-building factory in Armenia, Armenia's Minister of Urban Development Narek Sargsyan said in the parliament today. According to him, the investors want to start a company which will deal with fast construction of houses.

“The technology they are suggesting will allow constructing new houses with affordable budget, as well as reconstruct the existing houses with light and firm components,” Sargsyan said.

Due to this technology, it will be possible to fix the 50-60-year-old houses, left functional, but seriously damaged after the earthquake in 1988. These kinds of houses have remained specifically in Armenia’s city of Gyumri, which was greatly affected by the aforementioned earthquake.