CITY MAYOR: CONSTRUCTION OF NEW METRO STATION "ACHAPNYAK" IN YEREVAN WILL CONTINUE IN 2011

ARKA
March 10, 2010

YEREVAN, March 10. /ARKA/. Construction of new metro station
"Achapnyak" in Yerevan will continue in 2011, said Gagik Beglaryan,
Yerevan City Mayor.

Yerevan Municipality conducted negotiations with Asian Development
Bank and has already appointments for 2011.

"It is possible that in the result of negotiations in the center
of Yerevan – crossroads of Abovyan and Sayat-Nova streets second
entrance of metro station "Yeritasardakan" will be opened and in 2011
unfinished construction of metro station "Achapnyak" will continue",
said Beglaryan.

Opening of the entrance of metro station "Yeritasardakan" in the center
of Yerevan was envisaged during the construction of stations but the
works were implemented by 60%. In its result the project was refused.

Tigran Davtyan, Armenian Minister of Finance said that the mentioned
programs are of great importance for Yerevan.

"The issue of opening second entrance of metro station "Yeritasardakan"
is in the process of discussion", said the Minister.

Underground receives sufficient subsidies from state budget and the
programs should be viewed in the context of economic efficiency of
Yerevan underground.

Yerevan underground named after K. Demirchyan was opened in 1981 and
now it has 10 stations. The last metro station "Charbakh" was opened
in 1996.

The underground will receive 15 million EURO for the implementation of
modernization and reconstruction program, from which 5 million EURO
will be allocated by EBRD, 5 million EURO – European Investment Bank
and another 5 million EURO will be the grant of EC in the frames of
the program "European Neighborhood".

Another 1 million EURO for Yerevan underground will allocate EBRD by
the program of technical assistance from the resources of shareholders’
fund.