Construction of North-South road to start in Armenia in April-May 2010

YEREVAN, September 11. /ARKA/. Construction of North-South transport
corridor is to start in Armenia in April-May 2010, Minister of
Transport and Communication Gurgen Sargsyan told a press conference
Friday.

The negotiations with the Asian Development Bank on financing are over
and the project is expected to be discussed at a meeting of the bank’s
Board of Directors soon.

`I believe it will be approved, and if everything goes as per the
schedule we can start the construction as early as in April-May 2010,’
the Minister said.

At its meeting of August 6 Armenian Government supported the decision
to start construction of North-South road giving Armenia an access to
the sea.

The first $60m-worth stage of the project envisages construction of
Yerevan-Giumry road, the Minister of Transport said. Part of the
existing Yerevan-Giumry road is up to first-class standards, yet
problems exist in changing the groundwork and the equipping of the
road: these problems will be solved, Sargsyan said.

In the second $60m-worth stage, a first-class road will be built from
Ashtarak to Giumry.

North-South transport corridor will start at the southern border of
Armenia ` in Meghri ` and extend till Bavra at the border with Georgia.

Construction of the third, new part of the road ` Goris-Kapan ` will
cost $500-$700 million to be provided as a loan, the Minister said.

The allocations are quite substantial and Armenia will be spending them
efficiently, Sargsyan said.

The road will promote development of economic ties and be extended,
with ADB’s assistance, to Georgia (Batumu and Poti).

Asian Development Bank (ADB) was founded in 1966. Sixty-seven countries
are members of the ADB. The Republic of Armenia joined the ADB on
September 20 2005. There are a number of agreements and memoranda of
understanding signed between Armenian Government and the ADB.

Total cost of rural road and water supply construction projects
implemented by ADB in Armenia is $83 million.

So far, Armenia has received a total of $381 million from the ADB as
financial assistance. N.V. `0′

From: Emil Lazarian | Ararat NewsPress