ARMENIAN PARLIAMENT RATIFIES CORRIDOR

The Messenger
Feb 4 2010
Georgia

The Armenian Parliament has ratified a framework agreement with
the Asian Development Bank for allotting USD 500 million for the
construction of a north-south motorway transport corridor which will
connect Armenia with the Georgian Black Sea ports of Poti and Batumi.

Armenian Minister of Economy Nerses Yeritsian states that this project
will create the appropriate transport infrastructure in the region
and increase the speed of international transportation.

A feasibility study states that the project should be viable and
eventually facilitate the growth of Armenia’s economy. The initial
estimated cost of the project is USD 962 million.

The general concept of the project was prepared by the German and
Austrian company ILF, the feasibility study was prepared by the
company PADECO. Some other countries have also expressed an interest
in participating in building this motorway, including Italy, Brazil
and Iran, which could also use it for transporting goods to the
Georgian ports.