The legislation codifies a framework agreement signed earlier this year, establishing a ownership structure that grants the United States a 74 percent stake in the project, while the Armenian government holds the remaining share. Foreign Minister Ararat Mirzoyan confirmed the bill aligns with the January US-Armenian framework and the August 2025 peace deal brokered at the White House. The initiative now heads to the Constitutional Court for review before facing a parliamentary vote.

Operational control will fall to the newly formed TRIPP Development Co., which secures a 49-year lease to construct and manage the route. Finalizing the project requires the negotiation of a shareholders’ agreement and a formal corporate charter. To support the broader Middle Corridor, the US State Department appointed Chicago private equity investor Konstantin Sokolov to oversee a $200 million enterprise fund. Sokolov, previously identified as a donor to the White House East Wing ballroom project, will lead efforts to secure the infrastructure's financial backing.