Tuesday, December 20 2016 13:52

ArmInfo. The operations of the project of modernization of the Armenia-Georgia regional highway (M6, Vanadzor-Bagratashen) are ahead of schedule, Armenian Minister of Transport, Communications and IT Vahan Martirosyan told reporters on Dec 19, when summing up the results of the year 2016. 

He said that the project was launched on Dec 15. "Even today, in this winter weather the operations have not been suspended. At the moment concrete casting operations are underway in one of the tunnels," Martirosyan said.    

The key goal of the project is to overhaul and modernize the main interstate highway Vanadzor-Alaverdi- Georgian border (nearly 90km).  

To note, the project is co-funded by the European Investment Bank and Asian Development Bank. The relevant loan agreement was signed on November 9. An amount equivalent to $50 mln - 44,037,000 EUR will be provided for 22 years, with a 15-year grace period. The European Investment Bank has already lent 51 mln EUR. Under the agreement ratified earlier, Armenia will receive a 102 mln EUR loan for rehabilitation of the Vanadzor-Georgian border road.