Thursday, May 26 2016 18:18
Naira Badalian

Nearly 60 mln USD to be invested in construction of 18.7 km section of Talin-Lanjik road

Nearly 60 mln USD to be invested in construction of 18.7 km section  of Talin-Lanjik road

ArmInfo. Ministry of Transport and Communications of Armenia and leading Chinese construction company "Sinohydro Corporation Limited" signed general contract amounted to 60 mln USD within the 3rd tranche of North-South corridor construction investment program. 

 
First Deputy Transport Minister Arthur Arakelyan and Vice President of "Sinohydro Corporation Limited" Liu Shaoquan signed the document. 
 
As the press-service of Armenia's Transport and Communications Ministry informs the contract relates to construction of 18.7 km section of Talin-Lanjik road implemented within North-South corridor construction investment program. 
 
It is noted that 6 reputable construction companies participated in the tender. The Chinese company won it due to law cost and sufficient quality of the provided services. "I am sure that we will again gather at the end of the agreement terms and will congratulate each other on successful termination of work", Deputy Minister Arakelyan noted. In his turn Vice President of "Sinohydro Corporation Limited" assured that the work will be finished within the schedules-by the beginning of 2018. He also thanked Chian's Ambassador to Armenia for the provided support in the issue of participation of the company in the project. 
 
Government of Armenia approved the investment program of the North-South transport corridor on Jan 14 2010 and a framework financial agreement between Armenia and ADB in the amount of 500 million dollars.  The North-South 556km motorway will be laid via the 
Armenians 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. Agarak-Kapan-Yerevan Gyumri_Bavra road links the South of the country with the North providing access to "Southern Road Corridor" of Georgia which enables access to Poti and Batumi ports or to the East towards Tbilisi. 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. North-South project 
was initiated by Russia and Iran and implies activation of transport activity, including through construction of new transport communication Russia- Iran-India.  Armenia and Iran top leaderships are studying construction of a railway to link the two countries and become part of North-South transport corridor. 
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