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  • European Union To Discuss Ongoing And Future Investment Projects In

    EUROPEAN UNION TO DISCUSS ONGOING AND FUTURE INVESTMENT PROJECTS IN ARMENIA

    ARMENPRESS
    NOVEMBER 8, 2010
    YEREVAN

    YEREVAN, OCTOBER 8, ARMENPRESS: On 8-9 November representatives of
    the European Union will visit Armenia to start the implementation
    of a project on the rehabilitation of the Yerevan metro and discuss
    an agreement on a water supply and rehabilitation project with
    municipalities in Armenia, press service of the EU representation in
    Armenia reported.

    The purpose of the metro rehabilitation project is to finance priority
    capital investments to renovate the Yerevan metro system. The project
    will focus on the most immediate safety upgrade and renovation needs,
    including rolling stock upgrades, track improvements, power supply
    refurbishment, pump replacement and a maintenance trolley among
    others. The first phase of Yerevan Metro Rehabilitation project was
    approved in March 2010, and is supported by a ~@ 5 million EU grant
    through the EU Neighbourhood Investment Facility (NIF), ~@ 5 million
    loan by the European Investment Bank, as well as ~@ 5 million loan
    and ~@1 million in technical cooperation grants by the EBRD. Phase
    II, which will address other problems including water ingress to the
    tunnel, has an indicative value of ~@ 15 million.

    Apart from the metro rehabilitation, the EU is now finalising an
    agreement on a water supply project involving different Armenian
    municipalities through the NIF. The planned "Armenian Small
    Municipalities Water Project" with a value of ~@ 20.8 million will
    improve municipal water supply in selected municipalities (Tavush,
    Lori, Shirak, Gegharkunik, Kotayk, Syunik municipalities and
    Vayots Dzor province) and rehabilitate water treatment plants and
    sewerage collectors in Dilijan and Jermuk. During their visit, the
    representatives will also discuss possibilities for future projects
    in other sectors.




    From: A. Papazian
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