Armenian government, Asian Development Bank sign $100-million agreement for investment in North-South road construction

Armenian government, Asian Development Bank sign $100-million agreement for investment in North-South road construction

YEREVAN, March 12. /ARKA/. Armenian Finance Minister David Sargsyan and Asian Development Bank Resident Representative in Armenia David Dole signed an agreement on the third, $100-million tranche for investment in construction of North-South transport corridor, the finance ministry’s press office reported on Tuesday. 

This transport corridor will ensure connection among Armenia’s provinces and will serve as way to other countries. 

The third tranche is intended for three purposes – recovery of the 18.7-kilometer two-way road section connecting Talin and Lanjik cities and its expansion and transformation into a four-lane road; development and implementation of a long-term road sub-sectorial program and the administrative system running transport assets; preparation of feasibility studies on a 304-kilometer road section between Artashat and Kajaran and support for implementation of the program and preparation for the next tranche of the North-South investment program, including feasibility studies and a detailed engineering project . 

Earlier, Eurasian Development Bank said feasibility studies to North-South Highway – Phase 4 will be ready in late April 2014. 

The 556-kilometer North-South Road Corridor links Central Asia and India with Iran, Georgia, Russian Federation and Europe. The corridor passes across Armenia from South to North (Meghri-Kapan-Goris-Yerevan-Ashtarak-Gumri-Bavra), links up with the Georgian road leading to seaports Poti and Batumi (Black Sea) and on toward Russia, CIS and EU. -0----

10:30 12.03.2014

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