ArmInfo. Armenian Prime Minister Karen Karapetyan inspected progress in the first stage of reconstruction of the Vanadzor-Alaverdi-Georgian border interstate (M. 6) 38.5-km-long road section during his working visit to Lori region, the press service of the government informs.
It was reported to the Prime Minister that the construction started in September 2016. Work was reported proceeding in tune with the established timetable and due to be complete in March, 2018. Asphalting work is expected to complete this autumn. There has already been announced a tender for construction of the second part of the 58 km-long road section. As a result of the reconstruction the security level and capacity will increase on the road. The project will also help repair bridges and tunnels. AMD 15.5 billion has been invested in the reconstruction of the road section, which involved the European Investment Bank and the Asian Development Bank.
To note, M-6 interstate road three sectors (Vanadzor- Alaverdi-Georgian Border) rehabilitation and reconstruction bidding procedure was announced in Armenia on January 14 2017. The project is implemented at the assets of the loan of Asian Development Bank, the amount allocated forms USD 50 mln. The assets mentioned will be allocated for the modernization of three sectors of M-6 interstate road. The tender is open for all the companies of ADB member countries, which do have appropriate performance history and facilities. Bids could be submitted both for one and several lots.
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. To note, under ADB's country partnership strategy, 2014-2018, Armenia will receive about $500 million financial assistance to develop infrastructures, energy and social services that will ensure flexible, comprehensive and sustainable development of the country. In the transport sector, ADB will continue to support improving the north-south road corridor, and promoting transport links between and within secondary towns, especially those with the highest poverty rates. To promote regional cooperation and integration, ADB will coordinate with Georgia to help improve roads linking Armenia and Georgia. ADB will support urban development in towns with the highest poverty rates by helping local governments prepare integrated urban development plans, and financing modernization of infrastructures, including in water supply, urban roads, and solid waste management. Armenia's aging electricity infrastructure and heavy dependence on imported fuels affect its energy security. ADB will help addressing this issue by supporting the development of renewable energy resources and helping to rehabilitate and upgrade energy infrastructure.
Armenia joined ADB in 2005. ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.