ITALIAN COMPANIES INTERESTED IN BUILDING NORTH-SOUTH HIGHWAY

PanARMENIAN.Net
27.01.2010 16:27 GMT+04:00

/PanARMENIAN.Net/ Armenian Minister of Transport and Communications
Gurgen Sargsyan on January 26, 2010 received an Italian delegation led
by the Italian Deputy Minister of Economic Development Paolo Romani ,
press office of the ministry reported.

The minister stressed, that Italian practices can be applied to
intensify economic development of Armenia.

During the meeting, attended by the Armenian Minister of Economy Nerses
Yeritsyan, issues of digitization of broadcasting, Internet access,
railway, road construction were discussed. Paolo Romani noted that
Italian construction companies are well known and expressed the hope
that they will participate in an international competition for the
North-South highway construction.

The deputy minister did not rule out that Italian companies may
participate in the railway construction project in Armenia.

January 15, 2010 the Government of Armenia approved "Investment
Program on North-South Road Corridor Construction" . The total
cost of the investment program, financed by Asian Development
Bank, will reach USD 500 million and involves construction
of Agarak-Kapan-Yerevan-Gyumri-Bavra highways and the road
infrastructures. The construction of the corridor will improve the
road link with Iran and Georgia, providing access to international
destinations and markets. USD 120 million worth construction works
are projected to implement in 2010. Iranian banks are also ready to
finance the construction of separate parts of the highway.