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.