GOVERNMENT APPROVES NORTH-SOUTH ROAD CORRIDOR INVESTMENT PROJECT
NoyanTapan
Jan 14, 2010
YEREVAN, JANUARY 14, NOYAN TAPAN. At the January 14 sitting – the
first one held this year, the Armenian government approved the credit
agreement North-South Road Corridor Investment Project signed between
the Republic of Armenia and the Asian Development Bank on 12 October
2009, the Framework Agreement on Financing as well as the North-South
Road Corridor Investment Project signed between the RA and the ADB on
15 September 2009. The project covers Agarak-Kapan-Yerevan-Gyumri-Bavra
highways and road infrastructure. It will enable to improve road
communication with Iran and Georgia, ensuring access to international
trade routes and markets.
According to RA Minister of Economy Nerses Yeritsian, ADB will provide
loans of 0 million for financing the project. million will be allocated
on prferential terms in the first stage.
The minister said that Yerevan-Gyumri, Yerevan-Ashtarak and
Yerevan-Ararat road sections will be built in the first stage of the
project to be implemented in 2010-2017, and Sisian-Kapan road will
be built during the second stage. In 2010, it is planned to do work
of 0 million and construct 250 km of roads. The indicated sum will
be provided in two tranches.
From: Emil Lazarian | Ararat NewsPress
