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Construction Of North-South Transport Corridor May Be Launched Later

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  • Construction Of North-South Transport Corridor May Be Launched Later

    CONSTRUCTION OF NORTH-SOUTH TRANSPORT CORRIDOR MAY BE LAUNCHED LATER THIS YEAR

    /ARKA/
    JUNE 24, 2011
    YEREVAN

    YEREVAN, June 24. /ARKA/. Construction of North-South transport
    corridor may be launched later this year, Armenian Economy Minister
    Tigran Davtyan said Friday at a news conference.

    A day earlier, Armenian National Assembly ratified a $170-million
    loan agreement signed between the Armenian government and the Asian
    Development Bank on May 30, 2011 to implement the second component
    of the program of the construction program. this money would be
    spent for rehabilitation of 41 kilometers of Ashtarak-Talin road,
    a section of North-South corridor.

    Since an international tender announced by the government to select
    a company for building an 18 kilometer section of the road corridor
    between the capital city Yerevan, and Ashtarak to the north, the first
    phase of North-South Road Corridor project, did not reveal a winner,
    that section will be joined with the section between Ashtarak and
    Talin and a new tender will be announced in late June. "It means new
    jobs will be created, tax inflow will intensify and GDP will grow",
    Davtyan said.

    The program and the $500-million agreement with the Asian Development
    Bank were approved by the Armenian government on January 14, 2010.

    The aim of the program is to connect Armenian northern areas with
    southern town of Meghri, on the border with Iran, and ensure access
    to world markets. The road will make Armenia a transit state in
    transportation of the region countries' cargoes.

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