Thursday, July 6 2017 13:29
Alexandr Avanesov

Control Chamber in 2016 did not study the issue of effectiveness of use of credit in the construction of the road North-South

Control Chamber in 2016 did not study the issue of effectiveness of use of credit in the construction of the road North-South

ArmInfo. Armenian Control Chamber in 2016 did not study the issue of effectiveness of use of credit in the construction of the road North-South, Control Chamber head Lenov Iolyan stated from the platform of Armenian NA on July 06.

According to him, CC Intends in the coming years to submit to the court of Armenian parliamentarians qualitatively new conclusions. In total in 2016, 21 programs were studied for a total of 13 billion AMD.  Deficiencies in 7 programs amounting to 217 million AMD were eliminated. In addition, according to 35 programs, expenses were exceeded, and actual expenditures exceeded the planned 52 billion AMD. At the same time, 35 programs were implemented less than 50%, which led to changes in estimates in the amount of 17.8 AMD. The largest failure to fulfill planned tasks was noted in housing construction (75.7%).  Nevertheless, stressed Levon Yolyan, there was no research on the transport corridor "North-South" previous year.

To note construction of Ashtarak-Talin section is a part of the North-South road corridor project. North- South 556km motorway 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.

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