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Armenia to receive up to 236 million euros from EIB for construction of Sisian-Kajaran highway
Armenia plans to ratify the financial agreement signed on November 12, 2024 with the European Investment Bank (EIB) for the construction of the Sisian-Kajaran road section in the Syunik region. YEREVAN, April 25. /ARKA/. Armenia plans to ratify the financial agreement signed on November 12, 2024 with the European Investment Bank (EIB) for the construction of the Sisian-Kajaran road section in the ...
04/25/2025International tender announced in Armenia for construction of Kajaran tunnel
An international tender for the construction of the Kajaran tunnel in the Syunik region in the south of the country has been announced in Armenia, the Road Department Foundation of the Armenian Ministry of Territorial Administration and Infrastructure reports. YEREVAN, April 24. /ARKA/. An international ...
04/24/2025Iran and Armenia ready to create conditions in the sphere of transit cargo transportation - Iranian minister
... to $3 billion annually was discussed," Mirzoyan said. He also noted that Iran is participating in the implementation of strategically important projects in Armenia. For instance, an Iranian company is constructing a 32-kilometer section of the Kajaran-Agarak highway, which is a key component of the 'Crossroads of Peace' project. "Thus, Iran not only welcomed this project of ours early on but is also actively participating in its implementation," Mirzoyan emphasized. Earlier, the Iranian ...
03/25/2025Armenia invites France to participate in the construction of the North-South highway tunnel
... the center of attention of the French government and the necessary efforts will be made to implement them. The parties agreed on further steps and forms of cooperation. The approximate cost of the project to build the southern section of the Sisian-Kajaran highway of the North-South transport corridor is 452 million euros. Financing will be carried out partly by loans from the EBRD, EIB and EFSD, and partly by the Armenian government. It is planned to build a new 60 km section of the road, which ...
03/06/2025Pashinyan: growth of trade turnover with Iran is commensurate with Armenia's economic growth
... ensure quite good growth rates,” Pashinyan said. He mentioned that Iranian companies have a large presence in Armenia, in particular, they participate in the construction of a new customs checkpoint between Armenia and Iran, a section of the Agarak-Kajaran road of the North-South interstate highway, etc. According to Armstat, Armenia's foreign trade turnover with Iran in 2024 amounted to $737.4 million with a 6.5% growth compared to 2023. Exports to Iran amounted to $108.3 million (14.5% growth),...
03/05/2025EBRD reports historical highest investment in Armenia in 2024
... Forum was reflected in the volume of our operations, while helping to boost Armenia’s potential as an investment destination. The year was also marked by several landmark projects. Such as the largest-ever for EBRD in Armenia road project Sisian-Kajaran to enhance country’s connectivity; investment in the first sustainability-linked bond enhanced the telecoms infrastructure, as well as the first project signed under Refugee response package focused on integrating refugees into the country’s ...
01/28/2025Armenian government amends loan agreement with EDB on allocation of $200 million from ESDF for construction of Kajaran tunnel
... approved the proposal to sign an additional agreement No. 1 to the agreement between the Republic of Armenia and the Eurasian Development Bank (EDB) on the provision of an investment loan in the amount of $200 million to finance the construction of the Kajaran tunnel. YEREVAN, December 27. /ARKA/. On Friday, the Armenian government approved the proposal to sign an additional agreement No. 1 to the agreement between the Republic of Armenia and the Eurasian Development Bank (EDB) on the provision of ...
12/27/2024Zangezur Copper and Molybdenum Combine may offer Armenian government's stake in IPO - Pashinyan
... environmental protection and social responsibility, among other things. The ZCMC is located in the Syunik region in the south of Armenia, bordering Iran and Azerbaijan. The plant, which is one of the largest enterprises in Armenia, develops the ore of the Kajaran copper-molybdenum deposit. According to experts, the plant's ore reserves will last for about 150 years. The plant traditionally tops the list of 1000 largest taxpayers in Armenia: according to the State Revenue Committee, the plant's payments ...
12/20/2024Armenian Parliament approves $200 million loan agreement with EFSD for Kajaran tunnel construction
On Wednesday, the Armenian parliament approved a $200 million loan agreement with the Eurasian Fund for Stabilization and Development (EFSD) for the construction of the Kajaran road tunnel in the Syunik region of Armenia. YEREVAN, December 4. /ARKA/. On Wednesday, the Armenian parliament approved a $200 million loan agreement with the Eurasian Fund for Stabilization and Development (EFSD) for the construction of ...
12/04/2024EBRD to announce 44 million euro financing package for refugees in Armenia
... actively supporting the development of the infrastructure in Armenia. These efforts complement and support the Government’s Crossroads of Peace initiative,’she added. One of the most notable projects for this year was funding the construction of Sisian-Kajaran road part of the North-South corridor infrastructure rehabilitation. According to her, as Armenia is landlocked, solid road infrastructure is crucial for an efficient flow of trade that can support the value chain, increase diversification and ...
11/26/2024EBRD has invested record 2.4 billion euros in Armenia - EBRD Managing Director for Turkey and Caucasus (EXCLUSIVE)
... Government’s Crossroads of Peace initiative. One of the most notable projects for this year was funding the construction of Sisian-Kajaran road part of the North-South corridor infrastructure rehabilitation. As Armenia is landlocked, solid road infrastructure ... ... financial sector stability. They serve as a strong pillar of economic stability. The government has made progress in reducing corruption, improving transparency and setting up anti-corruption institutions. Those reform efforts should continue. More efforts ...
11/26/2024Armenian Parliament considers transforming EFSD into independent structure
... another $100 million will be allocated additionally. Besides, about $150 million loan has been allocated for the construction of the southern section of the North-South transport corridor. Also, $200 million will be provided for the construction of the Kajaran Tunnel and $40 million for the modernisation of the country's irrigation systems. Armenia's application for the construction of a water reservoir on the Mastara River will be considered in the near future. The Eurasian Fund for Stabilisation and ...
11/25/2024Armenia to take €236 million in loan from EIB for Sisian-Kajaran road construction
The Armenian government approved a loan agreement with the European Investment Bank (EIB) on Thursday, whereby the country will be provided with with €236 million for the construction of 60 km of the Sisian-Kajaran road. YEREVAN, November 7. /ARKA/. The Armenian government approved a loan agreement with the European Investment Bank (EIB) on Thursday, whereby the country will be provided with with €236 million for the construction of 60 km of the Sisian-Kajaran ...
11/07/2024Development of 360-meter tunnel and road infrastructure concreting begins on Armenia's ‘’North-South’’ route
Construction of 360-metre tunnel has started on the North-South road section from Agarak to Kajaran (phase 4). YEREVAN, 7 November. /ARKA/. Construction of 360-metre tunnel has started on the North-South road section from Agarak to Kajaran (phase 4). The implementation of the project is on schedule. A mission of the Eurasian Fund ...
11/07/2024Armenia to take a $200 million loan from EFSD for construction of Kajaran tunnel
... standing committee on financial and budgetary issues approved today the ratification of a $200 million loan agreement between Armenia and the Eurasian Fund for Stabilization and Development (EFSD) by the parliament for building the Kajaran tunnel near the border with Iran. YEREVAN, November 6. /ARKA/. The parliamentary standing committee on financial and budgetary issues approved today the ratification of a $200 million loan agreement between Armenia and the Eurasian Fund for ...
11/06/2024Armenian government approves $200m loan for Kajaran Tunnel construction
... construction is expected to take about six years to complete. YEREVAN, August 15. /ARKA/. The Armenian government has approved a $200 million loan agreement with the Eurasian Fund for Stabilization and Development (EFSD) for the construction of the Kajaran Tunnel in the Syunik province on Thursday. The project aims to enhance the capacity for transit transportation and reduce accidents along the North-South transport corridor. A tunnel approximately 7 kilometers long will be constructed near the ...
08/15/2024Prosecutors seek to confiscate illegal assets from Kajaran mayor
... assets with alleged illegal origins, the General Prosecutor's Office reported on Monday. YEREVAN, August 12. /ARKA/. The Anti-Corruption Court of Armenia accepted a new petition from the Prosecutor General's Office to confiscate various properties and ... ... Office reported on Monday. The petition demands that the state confiscate the following from Manvel Paramazyan, the mayor of Kajaran in Syunik Province: Six real estate properties Two vehicles Shares in one legal entity 491.878 million drams as the remaining ...
08/12/2024Landlocked Armenia must make the best use of human resources - ADB head in Armenia (exclusive)
... Azerbaijan? D. Lambert - I would like to mention two projects. We have made investments in the transport system of Armenia. ADB has been involved in many projects, and now it is planned to finance the construction of the northern section of the Sisian-Kajaran road. This investment will help the people of Syunik to have better communication with Yerevan, i.e. to have access not only to better medicine and education, but also to bring in their goods and sell them. The second direction we are discussing ...
08/01/2024Preserving peace in the region is of key importance for Iran: Pezeshkian to Pashinyan
... of his government ‘Crossroads of Peace’ and its principles aimed at unblocking regional communications. The Prime Minister highlighted the participation of the Iranian side in the construction of the North-South motorway, particularly the Agarak-Kajaran section. The steps undertaken towards the modernisation of the border crossing point at Armenia-Iran border were also highlighted. The leaders of Armenia and Iran discussed a wide range of issues related to the strengthening of trade-economic ...
07/30/2024Trade turnover with Armenia surges from $200m to $711m - Iranian Ambassador
... strengthening regional security,’ Sobhani noted. The diplomat said that last year it was possible to conclude the largest contract with the Armenian government since its independence. ‘This $212 million contract is for the construction of the Agarak-Kajaran road in southern Armenia, which is part of the North-South corridor. This road reduces the travel time from 1 hour 20 minutes to 20 minutes and the width of the road increases from 6 metres to 17 metres, which is very useful in terms of safety ...
07/19/2024Armenia requests ADB funding of 236 million euros for construction of Sisian-Kajaran road
Armenia has officially applied to the Asian Development Bank (ADB) in order to obtain EUR 236 million funding for the construction of Sisian-Kajaran road, the Armenian Finance Ministry said following a meeting of Minister Vahe Hovhannisyan with ADB Deputy Executive Director Levelin Charles Roberts in Yerevan. YEREVAN, 18 July. /ARKA/. Armenia has officially applied to the Asian Development ...
07/18/2024Pashinyan announces start of construction of Kajaran-Agarak section of North-South Motorway
Armenian Prime Minister Nikol Pashinyan announced the start of construction of the Kajaran-Agarak section of the North-South transport corridor during his Sunday visit to Armenia's Syunik region. YEREVAN, 17 June. /ARKA/. Armenian Prime Minister Nikol Pashinyan announced the start of construction of the Kajaran-Agarak section of ...
06/17/2024OVIO reopens redesigned and renewed sales and service offices
OVIO telecom operator has reopened its sales and service offices in the towns of Kapan, Kajaran and Gyumri as part of its rebranding move. YEREVAN, June 6. /ARKA/. OVIO telecom operator has reopened its sales and service offices in the towns of Kapan, Kajaran and Gyumri as part of its rebranding move. The rebranded offices are equipped ...
06/06/2024Armenia to loan $100m from Eurasian Fund for Stabilization and Development
... Hovhannisyan met with Andrey Shirokov, the Managing Director of the Eurasian Fund for Stabilization and Development, the Ministry reported on Monday. The meeting touched upon various projects, including the planned 7 km long tunnel in the projected Sisian-Kajaran highway, the crucial point for Armenia’s North-South corridor, and the renovation project for the existing highway connecting Yerevan with Yeraskh, Goris, and Megri near the Iranian border. Hovhannisyan appreciated the Fund’s participation ...
05/20/2024Minister: Armenia seeks to join major transportation projects from China to Europe
... the EBRD statement, the projects will be implemented in partnership with the Armenian government and private sector. Two of the projects will be implemented in Armenia's southern Syunik province bordering Iran. One is the construction of the Sisian-Kajaran section of the North-South Interstate Highway with an EBRD loan of 236 million euros, and the other is the establishment of a customs and logistics center in the Sisian region with an EBRD loan of 12 million euros and a grant of 2 million euros....
05/18/2024EBRD provides Armenia with 12 million euros for construction of customs and logistics center in Syunik
... obtaining the skills and certifications they need to become qualified candidates for employment in customs and logistics in Armenia’s public and private sectors. Importantly, the new customs centre in Syunik will align with plans for a new Sisian to Kajaran road to enhance connectivity between the Syunik region and Yerevan. The EBRD remains committed to developing Armenia’s logistical infrastructure to enhance its trade and regional connectivity. The EBRD is one of the largest institutional financiers ...
05/14/2024EBRD to provide EUR 236 mln loan to Armenia for construction of Sisian-Kajaran section of North-South highway
The Armenian government on Thursday approved the signing of a 236 million euro loan agreement with the European Bank for Reconstruction and Development (BRD) to finance the construction of the southern Sisian-Kajaran (Syunik) section of the North-South interstate transportation corridor. YEREVAN, May 8. /ARKA/. The Armenian government on Thursday approved the signing of a 236 million euro loan agreement with the European Bank for Reconstruction and Development ...
05/08/2024Transportation and communications important sectors for investment in South Caucasus - head of EBRD
... in Yerevan. "Particularly in the context of the Caucasus Corridor and the connection with Central Asia we have made investments in the region, in particular in the border infrastructure between Armenia and Georgia, the construction of the Sisian-Kajaran road section within the framework of the North-South corridor," Renault-Basso said. Earlier it was reported that the EBRD will finance the construction of the 24-kilometer southern section of the Sisian-Kajaran road of the North-South international ...
05/07/2024What is happening to Zangezur Copper and Molybdenum Combine's shareholders: ARKA news agency looks into the situation
... ambitions to reach the level of the world's leading companies of the industry. The ZCMC is located in Syunik region in the south of Armenia, bordering Iran and Azerbaijan. The combine, which is one of the largest companies in Armenia, exploits ore from the Kajaran copper-molybdenum deposit. The deposit has an ore supply of about 150 years . The Armenian government owns 21.875% stake in the ZCMC. -0-
11/24/2023Armenian seismologists recorded 5.4 magnitude earthquake in Azerbaijan-Iran border zone
... Service of the Ministry of Internal Affairs said the 5.4 magnitude earthquake was registered today at 9.18 local time (5.18 GMT). The epicenter was located 21 meters southeast of the Iranian city of Parsabad. The earthquake was felt in southern Armenian Kajaran, Meghri and Goris (Syunik province) , as well as in , Yeghegnadzor in Vayots Dzor region. -0-
11/08/2023Armenia's draft budget for 2024 earmarks about 120 billion drams for improvement of road infrastructure
... likelihood it will be commissioned this year. Speaking at a parliamentary discussion on the draft budget for 2024 Sanosyan said one of the two Ashtarak-Talin road sections is under construction and the construction of a 32-kilometer section of the Agarak-Kajaran road has already started. ($1 - AMD 403)
11/01/2023Unblocking regional infrastructures, construction of North-South highway and bilateral projects: Armenia and Iran discussed cooperation
... Construction and Urban Development Mehrdad Bazrpash, the press service of the Armenian government reported. It said Pashinyan welcomed the productive visit of the Iranian delegation to Armenia and the signing of a contract for the construction of the Kajaran-Agarak section of the North-South highway, which, according to Pashinyan, will be one of the biggest projects realized between the two countries so far. Pashinyan added that the government of Armenia is implementing large capital projects and ...
10/24/2023Magnitude 4 earthquake hits northwest Iran, felt also in southern Armenia
.... The earthquake occurred 31 kilometers south-east of the Iranian Khoy city in Western Azerbaijan province at 10.05 local time(06.05 GMT). The origin was located at the depth of 10 km. The earthquake was felt in the southern Armenian towns of Kapan, Kajaran, Meghri and Agarak, bordering Iran. --0--
10/23/2023Azerbaijan's actions may lead to loss of 10-20% of Armenia's economic growth due to impact on mining industry
... Deputy CEO of Zangezur Copper and Molybdenum Combine, told ARKA news agency. "At the moment, the damage from Azerbaijan's actions has not been calculated and such an analysis is not carried out. However, I would note the increase in production of Kajaran Combine, construction of a new smelter, resumption of the development of Amulsar gold deposit - all this will approximately provide 10-20% economic growth. That is, if Azerbaijan manages to implement its 'projects', the anticipated growth may ...
07/25/2023Cargo transportation via North-South ITC grows by 54% in 5 months of 2023 - EDB
... than $38 billion for implementation of 102 projects, 67 of which are financed by the state sources. He also recalled that purchase of cars for the South Caucasus Railway in Armenia is a project of the North-South ITC, while construction of the Meghri-Kajaran road section is a project of the Eurasian Fund for Stabilization and Development (EFSD). On April 14, 2015 an agreement was signed between the Republic of Armenia and the Eurasian Development Bank (EDB) on the provision of an investment loan from ...
06/09/2023Armenian to announce tender for fourth tranche of North-South international transport corridor project
The Armenian government will announce soon a tender for the fourth tranche of the North-South international transport corridor project that includes the Sisian-Kajaran section, Armenian Finance Minister Vahe Hovhannisyan told the parliament today. YEREVAN, June 5. /ARKA/. The Armenian government will announce soon a tender for the fourth tranche of the North-South international transport corridor that includes ...
06/05/2023Disagreements with partners in construction of North-South corridor being reconciled – minister
After the start of work on the road section that stretches from Sisian to Kajaran, which is part of the North-South Transport International Corridor (ITC), some disagreements have arisen with international donor partners on certain issues, which are now being reconciled, Armenian Minister of Territorial Administration and Infrastructure ...
05/30/2023Caught red-handed: smuggles tried to bring 10 kilos of drugs and weapons to Armenia
Armenia's National Security Service (NSS) has detained three residents of the southern town of Kajaran for attempting to smuggle in a large batch of drugs, firearms and ammunition from Iran. YEREVAN, May 22. /ARKA/. Armenia's National Security Service (NSS) has detained three residents of the southern town of Kajaran for attempting to smuggle ...
05/22/2023One of Azerbaijani soldiers who illegally entered Armenia a month ago sentenced to 11.5 years in prison
... ammunition across the state border. He pleaded guilty, the Pubic Television said. The investigation into the second saboteur, Huseyn Akhundov, continues. He is also accused of the murder of a guard at Zangezur Copper and Molybdenum Combine in Armenian Kajaran. The first Azerbaijani was detained on April 10 and the second one on April 13. They were said to have crossed into Armenia from Azerbaijani exclave Nakhijevan. According to reports, the second Azerbaijani serviceman was detained by three young ...
05/08/2023Armenia to get additional $86 million loan from EDB for North-South highway construction
... abstained. According to Deputy Minister of Territorial Administration and Development Kristine Galechyan, the fresh loan will be used to build the section of the highway stretching from Agarak town in southern Syunik province to the entrance of 32 km long Kajaran tunnel. Under the agreement, Armenia will receive $86.7 million in additional loan, while the total amount of funds under this project will amount to $236.7 million. The repayment deadline has also been extended to December 2026. The Eurasian ...
05/03/2023Armenian mining companies offer government some of their shares – minister
... Territorial Administration and Infrastructure Minister Gnel Sanosyan said Thursday. He said an example of mutually beneficial private-public sector cooperation is the Zangezur Copper-Molybdenum Combine, which manages the country's largest deposit, the Kajaran Copper-Molybdenum Mine. Speaking at an extraordinary session of the National Assembly Sanosyan said the Russian GeoPromining company after acquiring 60 percent of its shares in the fall of 2021, donated a quarter of its stake to the Armenian government....
04/20/2023Gift up to AMD 40,000: Rostelecom presents new, unprecedented special offer
... Ajapnyak, Davitashen, Malatia-Sebastia, Nor Nork and Avan, Arabkir, Shengavit administrative districts: also in the towns of Abovyan, Charentsavan, Hrazdan, Vanadzor, Gyumri, Armavir, Masis, Artashat, Ararat, Dilijan, Ijevan, Kapan, Martuni, Alaverdi and Kajaran. There are sales and service offices in all these towns. -0- Rostelecom OJSC ( www.rostelecom.ru ) is the largest and dynamically developing group of companies in the telecommunications sector of Russia and Europe, providing services throughout ...
04/06/2023Snow is falling in many parts of Armenia
... YEREVAN, March 31. /ARKA/. Armenia's Ministry of Emergency Situations said snow was falling in several regions of the country on Friday morning. "It is snowing in Gegharkunik region, in the towns of Jermuk (Vayots Dzor province), Vanadzor (Lori), Kajaran (Syunik), on sections of Saravan-Zanger, Sisian-Zanger roads, as well as on the Vardenyats Pass,' the ministry said. It said that all the roads on the territory of the country are open, except the roads running from the Amberd meteorological station ...
03/31/2023EBRD Vice President: the Bank has invested over €2 billion euros in 205 projects in Armenia to date - EXCLUSIVE
... cooperation? Mark Bowman- There are some truly remarkable projects in the pipeline for 2023, but we cannot disclose details just yet. Nevertheless, I can tell you that one of the topics discussed in detail was potential construction of the Sisijan-Kajaran road. We are currently leading the project preparation effort for this project. The project is set to improve the economy of the underserved Syunik region. In the wider context, will better connect Armenia to the so-called Middle Corridor transport ...
01/18/2023ANIF no longer to manage government's stake in Zangezur combine
... to the State Property Management Committee. The Zangezur Copper-Molybdenum Combine is one of the largest companies in Armenia, which has topped for years the list of Armenia’s 1000 largest corporate taxpayers. The combine is located in the town of Kajaran, developing the Kajaran copper-molybdenum deposit. According to experts, there is enough copper ore for the combine to develop the deposit for another 150 years. The shareholders of the plant are owned by the Industrial Company, which is a 100% ...
12/22/2022Participation of GeoProMining in state subvention projects in Armenia reaches 1 billion 700 million drams ($ 4.2 million )
... budgets and private sector grants. The implementation of projects effectively affects the development of community infrastructure. Within the framework of subvention programs of the Zangezur Copper-Molybdenum Combine in the communities of Kapan and Kajaran, the following projects were implemented: • Construction and repair of drinking water supply system, water reservoirs • Reconstruction of the irrigation system for water supply of villages and cities • Repair of roofs and basements, intended ...
11/18/2022Iran to start construction of Kajaran tunnel in Armenia in 2023 spring
... discussed a number of issues of bilateral interest. "In particular, I emphasized the involvement of Iranian companies in construction projects in Armenia and in tenders announced by the government of Armenia. We also discussed the construction of the Kajaran Tunnel (it is part of Sisian-Kajaran road section of the North-South transport corridor). I also spoke about large-scale road construction projects underway in Armenia, which will enable to increase the volume of Iranian cargo transportation in ...
11/01/2022Another 6.875% of shares of Zangezur Combine handed over to government of Armenia
... (15% of the equity) to the Armenian government. The Zangezur Copper-Molybdenum Combine is one of the largest companies in Armenia, which topped for years the list of Armenia’s 1000 largest corporate taxpayers. The combine is located in the town of Kajaran, developing the Kajaran copper-molybdenum deposit. According to experts, there is enough copper ore for the combine to develop the deposit for another 150 years. -0-
08/24/2022ZCMC continues to work exclusively within the framework of Armenian legislation
... the following statement: ‘The production activities of ZCMC CJSC strictly comply with the legislation and all regulatory legal acts of the Republic of Armenia. This approach is consistently applied by the new owner. In particular, ore mining at the Kajaran copper-molybdenum deposit continues to be carried out exclusively on the basis of the approved “Environmental Impact Assessment” EIA project (No. BF 108 of December 16, 2016) and the “Technical Safety Assessments” TSA (No. 2819 of October ...
07/22/2022Armenian government to alienate land plots for construction of section of North-South Transport Corridor
... today land alienation for the construction of a section of the North-South Transport Corridor. Minister of Territorial Administration and Infrastructure Gnel Sanosyan said the land plots are in a section of the road that will stretch from Sisian to Kajaran. 'In all, there are 570 plots of land that will be used for construction 60 kilometers of the road. There will be 27 bridges with a total length of 4.7 km and 9 tunnels with a total length of 12.6 km, the longest of which will be 8.6 km,' the ...
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