IRAN TO INVEST IN NORTH-SOUTH HIGHWAY CONSTRUCTION PROJECT

Tert.am
11:48 ~U 14.01.10

RA Transport and Communications Gurgen Sargsyan yesterday welcomed to
Armenia Extraordinary and Plenipotentiary Ambassador of the Islamic
Republic of Iran to the Republic of Armenia Seyed Ali Saghaeyan,
who presented the process of the North-South highway and Iran-Armenia
railway construction projects.

Ambassador Saghaeyan, in particular, noted that the Asian Development
Bank (ADB) has promised a loan of $500 million USD, of which $60
million USD has been earmarked for this year, toward the construction
of the North-South highway.

The ambassador further said that Iranian companies are also interested
in participating in the construction of Armenia’s section of the
North-South highway. Saghaeyan didn’t exclude the possibility of
Iranian banks investing in the financing of certain sections of
the highway.

Near the end of the meeting, a preliminary agreement was reached to
hold a meeting near the end of January in Yerevan on the Iran-Armenia
railway construction project.

From: Emil Lazarian | Ararat NewsPress