YEREVAN METRO TO GET $10 MLN CREDIT FROM THE EBRD UNDER THE LIBOR + 1 FOR 15 YEARS AND $5 MLN GRANT FOR ENERGY SAVING PROGRAMME

ArmInfo
2009-07-01 12:54:00

ArmInfo. The Yerevan subway after Karen Demirchyan will get $10
mln credit from the EBRD under the Libor + 1 for 15 years and $5
mln grant for the energy saving programme, director of the subway,
Paylak Yaloyan, told journalists today.

He also added the funds will be directed to construction of the
drainage tunnel from the metro station ‘Zoravar Andranik’ to the gorge
of the Razdan river for diverting of ground water. Because of shortage
of funds this programme was delayed more than 10 years ago. The
leadership of the subway is going to lead the water diverting tunnel to
the ‘Repiblic Square’ metro station and make it gravity flowing. This
will make it possible to reduce electric power consumption by the
subway. The programme of work will be ready at the beginning of autumn.

Yaloyan also recalled that Yerevan mayor’s office, Economy Ministry of
Armenia and Asian Development Bank signed a memorandum on development
of the transport infrastructures, within the frames of which 2 new
metro stations will be built in Achapnyak district of Yerevan and a
new exit for ‘Yeritasardakan’ metro station. ‘We are going to determine
the cost of the work, but one can be said for sure that expenses will
be very big and we cannot still allow ourselves construction of metro
stations using the funds from the state budget’, – Yaloyan said.