Thursday, January 19 2017 19:08

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.