IRAN WILL GET ACCESS TO GEORGIAN PORTS THROUGH ARMENIA

Experts’ club , Georgia
Jan 15 2010

Armenia and the Asian Development Bank signed a credit agreement
to finance the North-South highway crossing from Armenia to the
Georgian ports of Poti and Batumi. The press service of the Armenian
government reported that the government has approved a credit program
for 2010-2017. $ 120 million will be drawn this year.

As Armenian Minister of Transport and Communications Gurgen Sargsyan
said during a meeting with Iranian Ambassador to Armenia Seyed Ali
Sagayan the Asian Development Bank will provide $ 500 million credit.

Sagayan, in turn, noted that Iranian organizations are interested in
construction of this highway and Iranian banks will also participate
in financing of the construction.

Preliminary project cost is $ 962 million. Highway construction
concept has been prepared by the German-Austrian company ILF, while
feasibility study of the project was done by PADECO. The first tranche
will go to support work on security of sections of Yerevan- Ararat
and Yerevan-Ashtarak, and the second and third tranches will be used
to repair sections of Ashtarak-Gyumri and Goris-Kapan.

Length of the highway from the Armenian capital to Batumi, which
currently amounts to 700 km, after the construction of new roads
will be reduced to 450 km. Previously, the Government of Armenia has
decided to begin construction of transport corridor North-South,
which runs from the south of Armenia – Meghri area located on the
Armenian-Georgian border to Georgian Black Sea ports.

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