ArmInfo. In September 2017, Yerevan -Artashat sector of the North-South transport corridor will be completely and finally put under operation , Vahan Martirosyan, the Minister of Transport, Communications and IT of the Republic of Armenia stated at the National Assembly session on February 8.
According to Martirosyan, the bridges construction works are still in progress at this sector, which is the reason of incomplete operation of the road. But the highway will be opened for traffic in May this year.
The 556km North-South corridor will ensure access to the Black Sea and European countries via the territory of Armenia (Meghri-Kapan-Goris-Yerevan-Ashtarak-Gyumri- Bavra) and Georgia. The USD 1 billion investment project aims to link the north (border with Georgia) to the south of Armenia (border with Iran) through the transport services meeting high international standards, as well as to ensure the country's entry into international markets. The North-South corridor will be a concrete highway. The Asian Development Bank has lent USD 500 million to Armenia. Another USD 150 million will be provided by the Eurasian Development Bank. Armenia has also raised EUR 60 million from the European Investment Bank. The construction of the corridor is to be completed in 2019. According to the Armenian Government's preliminary estimations, the North- South project will allow saving 2.5 USD per 1 hour of travel time per passenger and 1 USD per 1 hour of transportation of 1 ton of cargo. The Armenian authorities expect the project to enable the country to mitigate the effects of the blockade imposed by Azerbaijan and Turkey, to become a transit country and to join the Black Sea Belt Highway.