Tuesday, September 26 2017 16:19
Naira Badalian

Appetite comes with eating: "North-South" will cost Armenia no longer $ 1 billion, but twice as much

Appetite comes with eating: "North-South" will cost Armenia no longer  $ 1 billion, but twice as much

ArmInfo. The southern part of  the automobile transport corridor "North-South" will cost Armenia $  1.5 billion, and the whole project - $ 2-2.5 billion. Nevertheless,  the republic is determined to complete the project. The Minister of  Transport, Communications and IT of Armenia Vahan Martirosyan stated  this on September 26 at a press conference.

According to the minister, if earlier the entire project - from the  northern to the southern border of Armenia was estimated at $ 1  billion, then for today its only southern section, between the cities  of Artashat and Meghri, according to preliminary estimates, will cost  $ 1.5 billion. The final project for the Southern part not ready, but  until the middle of next year, the design work will be completed, and  as a result of that, the estimate will also require adjustments. Due  to the absence of all the same final design approaches to  construction, Armenia has not appealed to international donor  organizations for financial assistance in the construction of the  Gyumri-Bavra and Artashat-Meghri plots. The project, however, as  pointed out by Martirosyan, will be ready in early 2017.

However, as Vahan Martirosyan stated, the state, in order to not  heavily burden the taxpayer, decided to turn to the private investors  in the issue of construction of the southern part of the route. Lure  them, as explained by the minister, will the prospect of introducing  the practice of toll roads, subject to the availability of  alternative to them - free roads. As for the current works, according  to the Minister, in the first ten days of October, 3 of the 7 bridges  in the Yerevan-Artashat section will be commissioned, the remaining 4  will be continued with additional work, as under the new program  their road surface and access roads to asphalt him. The minister  recalled that, ahead of schedule, the movement under the indicated  bridges was opened, and the works were conducted without restriction  of movement. Ashtarak-Talin, 42 km long, is being constructed on the  left-hand side of the Ashtarak-Talin road, which is under  construction under the Tranche 2 investment program, 11 km of  concrete cover has already been laid, and another 15 km are planned  to be laid before the end of the year. Construction works are being  continued on the sites of Talin-Landzhik (18.7 km), Landzhik-Gyumri  (27.5 km) in the framework of Tranche 3. Preparatory work is under  way to lay the concrete layer.

To recall, the project to create a transport corridor "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) via transport communications that meet high  international standards and access to world markets.  The road will  be covered with concrete. As the authorities of Armenia expect, the  program will allow the country in the future to mitigate the  consequences of the blockade by 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.  The Spanish "Corsan Corviam" won the tenders for the construction of  the first few lines of the route, the Chinese "Sinohydro Corporation"  won the last tender (for the Landik-Gyumri section in the north of  Armenia).

As early as in October 2016, ArmInfo was told by the Office for the  Implementation of Investment Programs for the Construction of the  North-South Motorway, the first agreement on the North-South highway  was signed back in 2009, and the first contract agreement in 2012,  when it began construction of a highway, $ 74mln of ADB's Asian  Development Bank loans were attracted within Tranche 1. In the  framework of Tranche-2, Ashtarak-Talin section, 42km in length, ADB  received another $ 180mln. On tranche-3, on the Ashtarak section  -Talin, Talin-Gyumri attracted $ 60 million of loan funds A BR (Talin  Landik plot - 18.7 km) and $ 84 million was attracted from the  European Investment Bank (Landzhik- Gyumri - 27.5 km) .The Eurasian  Development Bank (EDB) provided the loan for the implementation of  Trash-4 Artashat-Agarak and to the Iranian border ) in the amount of  $ 150 million. As for the works and investments in the framework of  the Tranche-5, during which the construction of the Gyumri-Bavra site  is planned, then, as noted in the SNCO, while the search for funding  sources is underway, .

According to the recent information of the Ministry of Transport of  Armenia, today $ 150 million of credit resources have been spent. $  70 million was spent on the construction of 31 km. The rest of the  funds was used for excavation work on the Ashtarak-Talin and  Talin-Gyumri sections. Also, work was carried out on concreting the  road at 11 km.


News
Iranian entrepreneurs are interested in opening joint ventures with  Armenia in a number of areasIranian entrepreneurs are interested in opening joint ventures with  Armenia in a number of areas
Major Armenian-Russian business forum to be held in YerevanMajor Armenian-Russian business forum to be held in Yerevan
Gyumri Shirak Airport is ready to serve European budget flightsGyumri Shirak Airport is ready to serve European budget flights
Mher Grigoryan reports on certain difficulties in negotiations with  GazpromMher Grigoryan reports on certain difficulties in negotiations with  Gazprom
Standing Parliamentary Committee on Financial-Credit and Budgetary  Affairs approved Artak Manukyan`s candidacy for the position of  member of the Central Bank CouncilStanding Parliamentary Committee on Financial-Credit and Budgetary  Affairs approved Artak Manukyan`s candidacy for the position of  member of the Central Bank Council
Mher Grigoryan: In terms of the opening of railways, solutions began  to be consideredMher Grigoryan: In terms of the opening of railways, solutions began  to be considered
GeoProMining  announces  completion of the second stage of Agarak CMC  modernization project GeoProMining  announces  completion of the second stage of Agarak CMC  modernization project 
IMF sharply improved its forecast for GDP growth in Armenia for 2021 to 6.5%, but warns: IMF sharply improved its forecast for GDP growth in Armenia for 2021 to 6.5%, but warns: "Downside risks remain elevated" 
Economy Minister considers Central Bank`s updated economic forecasts  as pessimisticEconomy Minister considers Central Bank`s updated economic forecasts  as pessimistic
Armenian government to allocate about 357.5 million drams to complete  15 subvention programsArmenian government to allocate about 357.5 million drams to complete  15 subvention programs
Economy Minister on the situation with Iranian trucks: We have a  Economy Minister on the situation with Iranian trucks: We have a  "Plan B"
 Armenian accountants and auditors can grow professionally with help  of British Association of Chartered Certified Accountants Armenian accountants and auditors can grow professionally with help  of British Association of Chartered Certified Accountants
Armenian government approves the ratification of the Agreement of the  CIS countries in the fight against IT crimesArmenian government approves the ratification of the Agreement of the  CIS countries in the fight against IT crimes
Armenia and Singapore exclude double taxationArmenia and Singapore exclude double taxation
Government of Armenia ratified the agreement between the governments  of the Republic of Armenia and the Republic of Malta on the avoidance  of double taxationGovernment of Armenia ratified the agreement between the governments  of the Republic of Armenia and the Republic of Malta on the avoidance  of double taxation
The leadership of SRC of Armenia at a meeting with the head of the  FCS of the Russian Federation noted the special importance of  enhancing contactsThe leadership of SRC of Armenia at a meeting with the head of the  FCS of the Russian Federation noted the special importance of  enhancing contacts
American company Wabtec shows interest in the Armenian market American company Wabtec shows interest in the Armenian market 
Deputy Prime Minister on a possible increase in gas prices: Gazprom  insists that the amount of profit stipulated in the 2013 agreement  does not satisfy themDeputy Prime Minister on a possible increase in gas prices: Gazprom  insists that the amount of profit stipulated in the 2013 agreement  does not satisfy them
Drip irrigation. 5 questions and answers with Converse BankDrip irrigation. 5 questions and answers with Converse Bank
World Bank`s updated Groundswell report warns: Climate change could  force 216 million people to migrate within their own countries by  2050World Bank`s updated Groundswell report warns: Climate change could  force 216 million people to migrate within their own countries by  2050
Expert: The unprecedented rise in gas prices in Europe and EAEU  membership open new opportunities for ArmeniaExpert: The unprecedented rise in gas prices in Europe and EAEU  membership open new opportunities for Armenia
Central Bank of Armenia: In Jan-July 2021, the net inflow of  transfers from individuals increased by 78.5% per annumCentral Bank of Armenia: In Jan-July 2021, the net inflow of  transfers from individuals increased by 78.5% per annum
Efforts are underway to enhance seismic safety at Armenian NPPEfforts are underway to enhance seismic safety at Armenian NPP
EEC Forecast: In 2022, the negative foreign trade balance in the EAEU  will be reduced from $ 5.8 billion to $ 2.5 billion EEC Forecast: In 2022, the negative foreign trade balance in the EAEU  will be reduced from $ 5.8 billion to $ 2.5 billion 
Central Bank of Armenia: Consistent tightening of monetary conditions  has a sufficient impact on the regulation of progressive consumer  demand and on curbing of  inflationCentral Bank of Armenia: Consistent tightening of monetary conditions  has a sufficient impact on the regulation of progressive consumer  demand and on curbing of  inflation
Central Bank upgrades Armenia`s economic growth forecast for 2021 to  5.6%Central Bank upgrades Armenia`s economic growth forecast for 2021 to  5.6%
Central Bank Governor: Inflation in Armenia is more supply-drivenCentral Bank Governor: Inflation in Armenia is more supply-driven
Central Bank: Transfers from USA to Armenia are growing rapidlyCentral Bank: Transfers from USA to Armenia are growing rapidly
Armenia and Ukraine launched the improvement of trade and economic  relationsArmenia and Ukraine launched the improvement of trade and economic  relations
Official and real y-o-y inflation continues to accelerate in ArmeniaOfficial and real y-o-y inflation continues to accelerate in Armenia
Central Bank of Armenia once again raised the refinancing rate - from  7% to 7.25%Central Bank of Armenia once again raised the refinancing rate - from  7% to 7.25%
About 2 billion drams to be allocated for the installation of  photovoltaic stations in seven regions of ArmeniaAbout 2 billion drams to be allocated for the installation of  photovoltaic stations in seven regions of Armenia
"Veolia Djur" proposes to increase water tariff by 43.7 drams
Mher Grigoryan: Trade and economic relations between Armenia and  Ukraine have great potential for developmentMher Grigoryan: Trade and economic relations between Armenia and  Ukraine have great potential for development
"Become a shareholder": ACBA Bank issued its first 500.000 shares  with a total volume of 7.5 billion drams
IDBank as a sponsor of the charity concert IDBank as a sponsor of the charity concert "Armenian Rock for Children with Cancer"
As of September 10, 2021, tax collection exceeded indicators of  pre-crisis 2019 by 4.9% in ArmeniaAs of September 10, 2021, tax collection exceeded indicators of  pre-crisis 2019 by 4.9% in Armenia
The collector coin dedicated to the 30th anniversary of the Republic  of Armenia has been issued by Central BankThe collector coin dedicated to the 30th anniversary of the Republic  of Armenia has been issued by Central Bank
Minister of Finance of Armenia and Ambassador of India discussed  possible directions for development of cooperationMinister of Finance of Armenia and Ambassador of India discussed  possible directions for development of cooperation
 Construction of Construction of "Friendship Bridge" on Armenian-Georgian border is in  full swing
Armenia reduced exports of molybdenum, zinc and copper concentratesArmenia reduced exports of molybdenum, zinc and copper concentrates
Armenia increased export of all alcoholic beverages produced in  countryArmenia increased export of all alcoholic beverages produced in  country
Armenia significantly increased volume of exports and imports of  fruit and berry cropsArmenia significantly increased volume of exports and imports of  fruit and berry crops
Armenia in H1 2021 increased grape exports by 66.7% Armenia in H1 2021 increased grape exports by 66.7% 
Regular meeting of Armenian-German intergovernmental commission took  place in BerlinRegular meeting of Armenian-German intergovernmental commission took  place in Berlin
Exclusive opportunity for VISA Signature cardholders of Converse BankExclusive opportunity for VISA Signature cardholders of Converse Bank
Armenia significantly reduced sugar importsArmenia significantly reduced sugar imports
Imports of oil products to Armenia grew by 3.7% in the first half of  2021Imports of oil products to Armenia grew by 3.7% in the first half of  2021
Armenia continues to reduce imports and exports of passenger carsArmenia continues to reduce imports and exports of passenger cars
Expert: Institutional solutions are needed in the development of  public-private dialogue (PPD)Expert: Institutional solutions are needed in the development of  public-private dialogue (PPD)
Diamond exports from Armenia have increased several-foldDiamond exports from Armenia have increased several-fold
Online processes will replace paperwork and the need to visit customsOnline processes will replace paperwork and the need to visit customs
About 100 thousand residents of 5 regions of Armenia will receive  round-the-clock water supplyAbout 100 thousand residents of 5 regions of Armenia will receive  round-the-clock water supply
Public-private dialogue is not going well in ArmeniaPublic-private dialogue is not going well in Armenia
YOY inflation in Armenia reaches 8.8% in August 2021YOY inflation in Armenia reaches 8.8% in August 2021
Armenia cuts gold exports, increasing importsArmenia cuts gold exports, increasing imports
Exports grow faster than imports in Armenia`s foreign trade with the  EU countries- 41% versus 11%Exports grow faster than imports in Armenia`s foreign trade with the  EU countries- 41% versus 11%
Armenia`s foreign trade turnover with EAEU countries reaches  double-digit growthArmenia`s foreign trade turnover with EAEU countries reaches  double-digit growth
As of the end of August, 488 thousand tourists visited ArmeniaAs of the end of August, 488 thousand tourists visited Armenia
Armenia slightly reduced the export of aluminum foil in H1, 2021Armenia slightly reduced the export of aluminum foil in H1, 2021
Read more


Exchange rates
17.09.2021
RUB6.68-0.04
USD484.93-1.44
EUR571.39-1.07
GBP668.43-3.64
CAD383.25-1.51
JPY44.10-0.35
CNY75.15-0.46
CHF523.12-3.31