TendersInfo
December 9, 2009 Wednesday

Armenia : Negotiations on development of Yerevan Subway frozen

The negotiations on development of the Yerevan Subway with the
European Bank for Reconstruction and Development (EBRD) and the Asian
Development Bank have been frozen.

As it was expected, the European Bank for Reconstruction and
Development planned to provide the Yerevan Subway with 15 million
euro, of this 5 million as a grant. The Asian Development Bank’s funds
were allocated to the new stations building at Achapnyak Community and
it was planned to build a new exit to Sayat-Nova Street and Abovyan
Street from the Eritasardakan Station.

The spokeswoman of the Yerevan subway Ninelle Vardanyan told Aysor s
correspondent that the agreements at best may be signed in 2010
January, or 2010 February. She said the main reason for the suspension
is the financial and economical crisis. This year has nullified all
our plans casting to the winds them all. We expect the next year will
be more advantageous, she added.