Activities within North-South road corridor construction project minimized because of weather conditions

ArmInfo. Activities within  North-South road corridor construction project have been minimized  because of bad weather conditions, Minister of Transport and  Information Technologies of Armenia Vahan Martirosyan told  journalists on January 19 after the government's session.  According  to him currently only earth works are being held. Placement of  concrete will continue as soon as the weather improves. 

To note, yesterday the Ministry of Economic Development and  Investments informed that French VINCI company, which is one of the  world leaders in the construction field and confessional management,  stated that the North-South Project has a strategic character and is  of a great interest for the company. An agreement was reached during  the meeting in the Ministry to sign a memorandum between Armenian  Government and the Company of Vinci, assuming handover of all the  necessary   information and determination of all the options to  involve the company in the North- South Project.

To remind, the North-South 556km highway will be laid via the  Armenian towns of Meghri-Kapan- Goris-Yerevan- Ashtarak- Gyumri-Bavra  and enter the territory of Georgia on Akhaltsikhe-Batumi section,  which will settle some transport problems of Armenia.  This will be a  four-lane motorway of reinforced concrete extending from the Armenian  border and Iran to the Georgian port Batumi. The road corridor will  facilitate improving the road connection with the two neighbors of  Armenia:  Iran and Georgia, providing access to international trade  routes and markets.  Armenia raised $500mln loan from the Asian  Development Bank for the project that is estimated at $1 billion.   Eurasian Development Bank is ready to provide $150 million. Armenia  raised $60 million from the European investment Bank.  Due to the  project, the overland communication Europe-Caucasus-Asia will be  improved.  The project will be completed by 2019.  It will allow  Armenia to soften the consequences of the blockade by Azerbaijan and  Turkey and to join the Black Sea ring highway. Corsan Corvian Spanish  company has won the tenders for construction of the first sections of  the road, Chinese Sinohydro Corporation has won the tender for  construction of the Lanjik-Gyumri section in north of Armenia.