ARMENIA TO RECEIVE USD 60 MIL. FROM ABD TO IMPLEMENT SOUTH NORTH HIGHWAY FEASIBILITY SURVEY

/PanARMENIAN.Net/
21.12.2009 14:32 GMT+04:00

/PanARMENIAN.Net/ 3 road construction programs, with a total worth of
AMD 39.8 billion were implemented by Armenian Ministry of Transport
and Communication in 2009, Minister Gurgen Sargsyan stated.

The programs were as follows: AMD 9,9 were allocated for reconstruction
of 120 km. of roads and 6 bridges; USD 5.4 million were provided by WB
and Armenian Government for 100 km of local roads construction, USD
16.92 were invested by RA Government and 47,92 by Asian Development
Bank for reconstruction of 227 km of roads. Part of construction
works stipulated by programs indicated will be completed in 2009;
programs will be finalized in 2010.

In this context, Minister Sargyan emphasized the regional importance
of North-South highway project implementation for connecting Yerevan
with Georgian ports of Poti and Batumi.

Armenia will receive USD 60 million tranche form Asian Bank of
Development to implement South North highway feasibility survey in
April 2010. Total value of the project will comprise USD 965 million,
with USD 500 million to be provided by ABD. "Highway construction
will allow for 30% transportation cost cutting," he said.