Thursday, July 13 2017 16:16
Naira Badalian

On the section of the Yerevan-Artashat motorway of the transport corridor"North-South" found cracks: the Ministry of Transport has no complaints

On the section of the Yerevan-Artashat motorway of the transport  corridor"North-South" found cracks: the Ministry of Transport has no  complaints

ArmInfo. On the road  sectionYerevan-Artashat transport corridor "North-South" found a  crack.This was stated by the Minister of Transport, Communications  and Information Technologies Vahan Martirosyan on July 13 after the  meeting of the government, stressing that the service contract with  the construction company of the Spanish "Corsan Corviam" was not  completed due to which the Ministry of Transport demanded  restoration.

Meanwhile, the Spanish company in Armenia, more precisely in road  construction of the country, "became famous" for a long time. Back in  July last year, former head of government Hovik Abrahamyan said that  the Spanish construction company has become a real evil for the  highway "North- South. "Abrahamyan said about the financial problems  of the Spanish company and that the Ararat road is still" in the  problems and made poor. "" There are some problems with this company  and I do not know with whom: They say there is no money, They were  just taken away, "Abrahamyan instructed, in addition to information  in the media that because of the" Armenian traditional "corruption,  the Spaniards are not able to carry out the construction of the  North-South road, information has also appeared that against the  Spanish organization 

A criminal case was opened, which was confirmed in the Ministry of  Finance ac ross. The Ministry reported that "on October 10th 2014. On  the second part of the 205th article of the RA Criminal Code, a  criminal case was instituted in connection with tax evasion on a  particularly large scale by the Armenian branch of the joint-stock  company Corsan Corviam. At the same time, the Ministry of Transport  recorded deficiencies for which the Spanish company was fined $ 5.7  million. Now the works are being carried out according to the  schedule. However, today the Minister of Transport assures that today  the quality of work of the construction company does not cause  censures. The other day the minister visited the Ashtarak- Tallinn  section and did not note any criticism from both engineers and  specialists from the Ministry and the BCP. "Works on the  Yerevan-Ashtarak section will be completed in autumn 2017," Vahan  Martirosyan assured.

It should be noted that on June 27 at the budget hearings in the  parliament Gagik Grigoryan, the first deputy minister of transport,  communications and information technologies of Armenia, stated that  the North- South highway is ahead of schedule. According to him,  instead of the planned 17.3 billion drams already used 24 billion  drams. Work on the first tranche (Tranche 1), envisaged for the  Yerevan-Artashat and Yerevan-Ashtarak sections is almost complete, on  the route Ashtarak-Talin (Tranche 2) work is still under way. In the  third section (Tranche 3) of Talin-Gyumri, excavation work is carried  out and a trial laying of concrete is under way.

The construction of the highway "North-South" with a total length of  556 km will provide access to the Black Sea and European countries  through the territory of Armenia (Meghri-Kapan-Goris-Yerevan-  Ashtarak-Gyumri-Bavra) and Georgia.

The $ 1 billion investment program is aimed at securing the  connection between the north (the border with Georgia) and southern  Armenia (the border with Iran) through transport communications that  meet high international standards and access to world markets. The  road will be covered with concrete. To implement the project, Armenia  raised a loan from the Asian Development Bank in the amount of $ 500  million.  Another $ 150 million will be provided by the Eurasian  Development Bank. The Armenian side also attracted 60 million euros  from the European Investment Bank for the implementation of the  project. The construction of the corridor is planned to be completed  in 2019. Under the "North-South" program, the Armenian government  calculated the preliminary savings of $ 2.5 per hour for each  passenger and $ 1 per hour for transporting a ton of cargo. As the  authorities of Armenia expect, the program will allow the country in  the future to mitigate the consequences of the blockade on the part  of Azerbaijan and Turkey, to play the role of a transit state in the  freight transportation of the countries of the region, and also to  join the Black Sea ring highway.


News
Team Telecom Armenia becomes technology partner of KoreezTeam Telecom Armenia becomes technology partner of Koreez
Armenia to receive $20mln share from customs duties collected in EAEUArmenia to receive $20mln share from customs duties collected in EAEU
Pashinyan receives Executive Director of World Trade Centers  AssociationPashinyan receives Executive Director of World Trade Centers  Association
Vahan Kerobyan on goals of MoE: Vahan Kerobyan on goals of MoE: "Dry Port" of Gyumri will provide 3%  of Armenia`s GDP 
Evocabank replenishes its share capitalEvocabank replenishes its share capital
"The state collects taxes from the economy, but does not spend, thus  reducing economic activity": Luys Foundation 
Investin.am business portal for Private Equity has been launched in  ArmeniaInvestin.am business portal for Private Equity has been launched in  Armenia
YOY inflation in Armenia in April 2021 was 8.4%, and in January-April  alone - 5.8%YOY inflation in Armenia in April 2021 was 8.4%, and in January-April  alone - 5.8%
Branch of International Coaching Federation has been opened in  ArmeniaBranch of International Coaching Federation has been opened in  Armenia
Gnel Sanosyan discusses new agreement on gas-for-electricity program  with Iranian Petroleum Minister Gnel Sanosyan discusses new agreement on gas-for-electricity program  with Iranian Petroleum Minister 
RA High-Tech Industry Minister, French Ambassador discuss Armenia`s  participation in VivaTech 2022RA High-Tech Industry Minister, French Ambassador discuss Armenia`s  participation in VivaTech 2022
MoE reports on results of World Bank`s CARMAC2 programMoE reports on results of World Bank`s CARMAC2 program
Central Bank of Armenia: Prices for food and energy  are expected  to stay at high levelCentral Bank of Armenia: Prices for food and energy  are expected  to stay at high level
CMTPL loss ratio in Armenia decreased from 86% in 2021 to 67% by May  2022CMTPL loss ratio in Armenia decreased from 86% in 2021 to 67% by May  2022
Evocabank to help Armenian postal operator introduce financial  servicesEvocabank to help Armenian postal operator introduce financial  services
Remittances of labor migrants from Russia decreased, while transfers  of Russians increased: Central Bank of ArmeniaRemittances of labor migrants from Russia decreased, while transfers  of Russians increased: Central Bank of Armenia
Armenia, Iran reached agreement to remove obstacles to increase trade  between two countriesArmenia, Iran reached agreement to remove obstacles to increase trade  between two countries
Wildberries launches direct sales from Armenian entrepreneursWildberries launches direct sales from Armenian entrepreneurs
Armenia`s Minister of Economy WB Country Manager discuss CARMAC IIArmenia`s Minister of Economy WB Country Manager discuss CARMAC II
Armenian, UAE  FMs discuss bilateral cooperation Armenian, UAE  FMs discuss bilateral cooperation 
Armenia to attract another loan from IBRD in amount of EUR 26.5  million to improve public administration systemArmenia to attract another loan from IBRD in amount of EUR 26.5  million to improve public administration system
According to UBA level of profitability of the Armenian banking  system is quite lowAccording to UBA level of profitability of the Armenian banking  system is quite low
$10 million to be invested in construction of multifunctional  business center in Dzoragyugh district of Yerevan$10 million to be invested in construction of multifunctional  business center in Dzoragyugh district of Yerevan
Converse Bank bonds can now be purchased via the mobile applicationConverse Bank bonds can now be purchased via the mobile application
UBA: Net inflow of private transfers to Armenia increased by 45% per  annum in Q1UBA: Net inflow of private transfers to Armenia increased by 45% per  annum in Q1
Seyran Sargsyan: The reduction in non-resident deposits had a  negative impact on the total volume of bank depositsSeyran Sargsyan: The reduction in non-resident deposits had a  negative impact on the total volume of bank deposits
UBA: Volumes of lending to the Armenian economy have grown in almost  all areasUBA: Volumes of lending to the Armenian economy have grown in almost  all areas
Team Telecom Armenia to start business data center construction Team Telecom Armenia to start business data center construction 
Discount system in cashless transactions for pensioners to be  introduced in Armenia Discount system in cashless transactions for pensioners to be  introduced in Armenia 
Armenia`s government to allocate  $10mln to road renovation Armenia`s government to allocate  $10mln to road renovation 
Passenger traffic in Armenia reached 40% growth in Q1Passenger traffic in Armenia reached 40% growth in Q1
Armenia, Iran simplify mutual access of investors to FEZ markets of  two countriesArmenia, Iran simplify mutual access of investors to FEZ markets of  two countries
Armenia`s communications sector revenue in Q1 2022 increased by 6.8%Armenia`s communications sector revenue in Q1 2022 increased by 6.8%
Armenia reduced wine production in Q1Armenia reduced wine production in Q1
Pashinyan receives Alexei Overchuk and Andrey RudenkoPashinyan receives Alexei Overchuk and Andrey Rudenko
Tourist flow to Armenia starts to recoverTourist flow to Armenia starts to recover
ARMSWISSBANK receives EBRD award ARMSWISSBANK receives EBRD award "The most Active Issuing Bank in Armenia for 2021"
Natural population decline was recorded in Armenia Natural population decline was recorded in Armenia 
Armenia`s population decreased by 2.3 thousand people by April 1,  2022Armenia`s population decreased by 2.3 thousand people by April 1,  2022
S&P Global Ratings assigns S&P Global Ratings assigns "B-" (Local Currency LT credit rating) to  ASCE Group
Armenia spares no effort for North-South energy corridor program to  be implemented in shorted period - minister Armenia spares no effort for North-South energy corridor program to  be implemented in shorted period - minister 
Turkey never agreed on construction of dams on Aras River with other  countries of basin - Ali Akbar MehrabianTurkey never agreed on construction of dams on Aras River with other  countries of basin - Ali Akbar Mehrabian
Armenia, Iran to consider to increasing gas supplies from Iran to  ArmeniaArmenia, Iran to consider to increasing gas supplies from Iran to  Armenia
Hayk Yesayan: Introduction of 5G in Armenia in the next couple of  years will be inexpedientHayk Yesayan: Introduction of 5G in Armenia in the next couple of  years will be inexpedient
Armenia, Iran to sign memorandum to develop cooperation in number of  areasArmenia, Iran to sign memorandum to develop cooperation in number of  areas
Another intermediate subway station to be built in YerevanAnother intermediate subway station to be built in Yerevan
FinRating ArmInfo: Travel insurance has grown in terms of the number  of contracts concludedFinRating ArmInfo: Travel insurance has grown in terms of the number  of contracts concluded
Armenia`s premier visits Confederation of Netherlands Industry and  Employers to present investment opportunities in Armenia to local  businessArmenia`s premier visits Confederation of Netherlands Industry and  Employers to present investment opportunities in Armenia to local  business
Armenia`s foreign trade turnover with EAEU countries increased by  40.7% in Q1 2022Armenia`s foreign trade turnover with EAEU countries increased by  40.7% in Q1 2022
Armenia`s specific debt burden per capita has already reached $3.2  thousandArmenia`s specific debt burden per capita has already reached $3.2  thousand
Russia, China remain leaders in Armenia`s exports, imports Russia, China remain leaders in Armenia`s exports, imports 
Innovative Agradrons Laboratory has been opened at Armenian National Agrarian University Innovative Agradrons Laboratory has been opened at Armenian National Agrarian University 
Despite significant migration flow from Russia, the negative balance  of Armenia`s migration exceeded 2.4 thousand people in Q12022Despite significant migration flow from Russia, the negative balance  of Armenia`s migration exceeded 2.4 thousand people in Q12022
Electricity generation increased by 16.7% in Armenia in Q1 2022 Electricity generation increased by 16.7% in Armenia in Q1 2022 
Service sector and energy complex were major drivers of economic  activity growth in Q1 2022 Service sector and energy complex were major drivers of economic  activity growth in Q1 2022 
About AMD 372 million were allocated for payment of salary arrears  to employees of Nairit Plant About AMD 372 million were allocated for payment of salary arrears  to employees of Nairit Plant 
Metallurgical industry of Armenia reduced production volumes by 17%  in Q1 2022Metallurgical industry of Armenia reduced production volumes by 17%  in Q1 2022
Turkish aviation authorities closed their airspace to FLYONE ARMENIA  European destinationsTurkish aviation authorities closed their airspace to FLYONE ARMENIA  European destinations
In Q1 2022 more than 8 thousand tons of aluminum foil were produced  in ArmeniaIn Q1 2022 more than 8 thousand tons of aluminum foil were produced  in Armenia
Statistics: The production volumes of Armenia`s industry increased by  3.1% in Q1 2022 Statistics: The production volumes of Armenia`s industry increased by  3.1% in Q1 2022 
Read more


Exchange rates
19.05.2022
RUB7.400.18
USD459.401.91
EUR484.072.88
GBP571.033.88
CAD358.572.13
JPY35.980.56
CNY68.040.18
CHF470.6511.55