Feasibility study for fourth phase of north -south transport corridor
in Armenia will be ready in late April
YEREVAN, March 7. / ARKA /. The feasibility study for a project
designed to build the fourth phase of North -South transport corridor
in Armenia will be ready in late April 2014, a representative of the
Armenian government said during a meeting of the Eurasian Development
Bank (EDB) , held yesterday.
The $100 million worth s project is being prepared by the EDB as the
Manager of EurAsEC Anti-Crisis Fund in collaboration with the Asian
Development Bank (ADB).
If the project is approved by Anti-Crisis Fund Board , which is
expected somewhere in June 2014, the financing would follow the same
year.
On 26 June 2013 the ACF Council approved the preliminary request and
Concept Note for the investment project in Armenia the Construction of
the North-South Road Transport Corridor (Phase 4) in the amount of US$
100 million. The project involves rehabilitation of a section of the
transport corridor as part of the investment project “Construction of
North-South Road Corridor”.
The “North-South” Road Corridor links Central Asia and India with
Iran, Georgia, Russian Federation and Europe. The corridor passes
across Armenia from South to North
(Meghri-Kapan-Goris-Yerevan-Ashtarak-Gumri-Bavra), links up with the
Georgian road leading to seaports Poti and Batumi (Black Sea) and on
toward Russia, CIS and EU. The “North-South” road is part of the
transnational motorway AH 82 interlinking such Central Asian countries
as Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.
As a result of the proposed comprehensive development project, the
road route Europe-Caucasus-Asia will be improved in the zone of
junction between West Europe and Eastern Europe. The quickest shortcut
route of the corridor, 449 km in length, in its final stretch on the
territory of Georgia runs along the road Akhaltsykhe-Batumi, which is
currently in need of rehabilitation.
Following the meeting, the parties agreed on a joint mission of the
EDB , ADB and Armenian Ministry of Transport in March- April this
year.
EDB was established by Russia and Kazakhstan in January 2006 with the
purpose of support to market economy of participant-states. Charter
capital of the bank exceeds $1.5 billion. Participant-states of the
bank are Russian Federation, Belarus, Kazakhstan, Armenia, the Kyrgyz
Republic and Tajikistan.
The EURASEC Anti-crisis Fund is an international financial institution
established by Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russia
and Tajikistan with the goals to assist its member states in
overcoming the consequences of global financial crisis, to ensure
their long-run economic stability and to foster economic integration
of ACF member-countries.
The Fund assists member states with two instruments — financial
credits, available to governments only, and investment loans, provided
either to ACF member states or to companies implementing interstate
and national investment projects. -0-
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