Thursday, January 18 2018 16:20
Naira Badalian

North-South is bursting at the seams: Works on Yerevan-Artashat sector restoration is promised to be finished at contractor`s expense

North-South is bursting at the seams: Works on Yerevan-Artashat  sector restoration is promised to be finished at contractor`s expense

ArmInfo. On the segment of the  transport corridor "North-South" - Yerevan-Artashat, which was  commissioned in late 2015, pits were formed, and in some areas -  cracks.  "The works on the restoration of this section of the highway  will be implemented at the expense of the contractor's company - it  is still in warranty service," Minister of Transport, Communications  and Information Technologies Vahan Martirosyan told ArmInfo on  January 18.

According to the minister, for today it is impossible to say that the  cracks and pits arose due to the poor performance of the contractor -  the Spanish "Corsan Corviam", even if we take into account that the  work, according to the actual estimate of $ 2 million per 1 km. road.  In this issue, as he pointed out, clarity will be on the results of  laboratory analysis. "To this day, according to the available  documentation, there were no shortcomings in the construction,"  Martirosyan said.

Earlier, ArmInfo informed, in the course of Yerevan-Artashat of the  transport corridor "North-South" in July 2017, cracks were found. At  the same time, Vahan Martirosyan stated that the service agreement  with the construction company of the Spanish "Corsan Corviam",  responsible for the 1st and 2nd tranches of the investment program,  was not completed, and the Ministry of Transport demanded  restoration. Meanwhile, the Spanish company became "famous" in  Armenia for its road "construction". It was "Corsan Corviam" in the  summer of 2016, former Prime Minister Hovik Abrahamyan called the  real evil for the North-South.  Abrahamyan stated about the financial  problems of the Spanish company and that the Ararat road is still "in  the problems and made poor".

In 2018, $ 47 million will be spent on the continuation of the  program for the construction of the North- South transport corridor.  The funds will be attracted in the form of loans from the Asian  Development Bank, the European Investment Bank and the Eurasian  Development Bank, another 2.8 billion AMD will be received in the  form of a grant from the European Investment Bank. The main front of  work next year will unfold on the 84 km of the highway, which  provides for laying 40-45 km concrete. The works, in particular, will  be carried out on the road section from the cities of Ashtarak to  Gyumri. As a result, the road from 2 lanes will expand to 4, and  instead of asphalt will be laid concrete.

Meanwhile, at the end of September 2017, Vahan Martirosyan, Minister  of Transport, Communications and Information Technologies of Armenia  reported that according to current calculations, the construction of  the entire 556-kilometer North-South highway stretching from Bavra to  Meghri will cost more than $ 2 billion, since it is only south  section, between the cities Artashat and Meghri, according to  preliminary estimates, will cost $ 1.5 billion. Five years ago, in  September 2012, when the construction of the highway began, the  amount called by representatives of the government of Armenia was  more twice less - $ 962 million. For today, 150.3 million USD and  23.14 million EUR is spent. At the moment, only a 31 km section has  been built and modernized, for which $ 70 million was spent. The rest  was directed to excavation work on the Ashtarak-Talin and  Talin-Gyumri sections. Also, work was carried out on concreting the  road at 11 km. The construction of the corridor was originally  planned to be completed in 2019. Already today it is officially  announced that the terms are postponed for more than 2 years.

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 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.

POST A COMMENT
Input digits     


News
It is planned to develop a roadmap for improving investment policy in  ArmeniaIt is planned to develop a roadmap for improving investment policy in  Armenia
RA Prime Minister presented Italian business community with business  opportunities in ArmeniaRA Prime Minister presented Italian business community with business  opportunities in Armenia
Armbusinessbank became an agent of the primary market of government  bonds of ArmeniaArmbusinessbank became an agent of the primary market of government  bonds of Armenia
Corporate bonds of the largest mining company in Armenia have been  listed on the Armenian Stock ExchangeCorporate bonds of the largest mining company in Armenia have been  listed on the Armenian Stock Exchange
Artur Javadyan presented specifics of Armenia`s monetary policy at a  meeting of the Club of Central Bank HeadsArtur Javadyan presented specifics of Armenia`s monetary policy at a  meeting of the Club of Central Bank Heads
Ameriabank fully transfers business financing to digital channelsAmeriabank fully transfers business financing to digital channels
Online loans dominate in Ameriabank`s consumer loan portfolio Online loans dominate in Ameriabank`s consumer loan portfolio 
Armen Sarkissian summed up results of official visit to Qatar:  Armenia can attract investmentsArmen Sarkissian summed up results of official visit to Qatar:  Armenia can attract investments
Armenian government granted privileges to companies with Armenian government granted privileges to companies with "actual"  production
Tigran Avinyan and Sylvie Bossoutrot discussed the implementation of  the program Tigran Avinyan and Sylvie Bossoutrot discussed the implementation of  the program "Local Economy and Infrastructures Development"
Japanese scientist Takeo Kanade awarded Japanese scientist Takeo Kanade awarded "Global IT Award- 2019``  State Prize of the Republic of Armenia for global contribution to IT 
Deputy Prime Minister: In the next 1-3 years, issue of transport in  Yerevan will be completely resolved Deputy Prime Minister: In the next 1-3 years, issue of transport in  Yerevan will be completely resolved 
Expert: Animal numbering and registration program to serve as basis  for other livestock projectsExpert: Animal numbering and registration program to serve as basis  for other livestock projects
Armenian government thinks about expanding capabilities of inspection  bodiesArmenian government thinks about expanding capabilities of inspection  bodies
Armen Sarkissian and representatives of Qatar Investment Fund  discussed prospects of cooperation Armen Sarkissian and representatives of Qatar Investment Fund  discussed prospects of cooperation 
Armenia`s GDP growth in Q3 of 2019, compared to same period in 2018,  amounted to 7.9%Armenia`s GDP growth in Q3 of 2019, compared to same period in 2018,  amounted to 7.9%
Arthur Javadyan left for Prague to attend 42nd session of Central  Bank Governors` Club of Central Asia, Black Sea Region and Balkan  CountriesArthur Javadyan left for Prague to attend 42nd session of Central  Bank Governors` Club of Central Asia, Black Sea Region and Balkan  Countries
Avinyan on the termination of Taron Avia Airlines operation: Air  transportation cannot be compared with transportation of people by  Avinyan on the termination of Taron Avia Airlines operation: Air  transportation cannot be compared with transportation of people by  "minibuses"
Avinyan: The issue of building a new copper smelting complex in  Armenia is on government`s agenda Avinyan: The issue of building a new copper smelting complex in  Armenia is on government`s agenda 
ADB to allocate $10 mln on reforms in Armenia`s education and  healthcare sectors ADB to allocate $10 mln on reforms in Armenia`s education and  healthcare sectors 
Current water tariff will be maintained in Armenia in 2020Current water tariff will be maintained in Armenia in 2020
SCR and GeoProMining Gold signed a cooperation agreement for 2020SCR and GeoProMining Gold signed a cooperation agreement for 2020
N. Pashinyan: The price of Russian gas for Armenia will not increase  until spring 2020N. Pashinyan: The price of Russian gas for Armenia will not increase  until spring 2020
Mekhak Apresyan: Tourist flow to Armenia will increase by 15% in 2019Mekhak Apresyan: Tourist flow to Armenia will increase by 15% in 2019
For monthly fee of AMD 4000 Beeline`s subscribers will receive fixed  100MB/s internetFor monthly fee of AMD 4000 Beeline`s subscribers will receive fixed  100MB/s internet
Expert: By 2027, the gas price on the border of Armenia will increase  to $ 299 per 1 thousand cubic metersExpert: By 2027, the gas price on the border of Armenia will increase  to $ 299 per 1 thousand cubic meters
A plan for the development of the Armenian energy system for the  period of  2020 -2036 presented in YerevanA plan for the development of the Armenian energy system for the  period of  2020 -2036 presented in Yerevan
In Armenia, the minimum wage will be increased to 68 thousand dramsIn Armenia, the minimum wage will be increased to 68 thousand drams
The process of customs clearance of imported cars has begun at Gyumri  customsThe process of customs clearance of imported cars has begun at Gyumri  customs
Armenia and UNDP agree to collaborate on energy saving projectsArmenia and UNDP agree to collaborate on energy saving projects


Exchange rates
21.11.2019
RUB7.470.01
USD476.69-0.29
EUR528.460.78
GBP617.031.30
CAD358.20-0.49
JPY43.92-0.07
CNY67.89-0.14
CHF481.260.19


Experts
Tigran Khachatryan: Attracting several transnational investors to  Armenia will allow the country to start playing for high stakesTigran Khachatryan: Attracting several transnational investors to  Armenia will allow the country to start playing for high stakes
During the first 5 years, the agricultural insurance market in Armenia will operate at a lossDuring the first 5 years, the agricultural insurance market in Armenia will operate at a loss
Artak Kamalyan: Education is the key to success. Everything else is of secondary importanceArtak Kamalyan: Education is the key to success. Everything else is of secondary importance
Head of PSRC: Whatever the agreement, the domestic tariff is  dependent on the price at the borderHead of PSRC: Whatever the agreement, the domestic tariff is  dependent on the price at the border
IMF: Armenia needs to achieve sustainable inclusive growthIMF: Armenia needs to achieve sustainable inclusive growth
Artur Atoyan: Problems of fish farmers are solved by the communist  method, that is, they are not solved at allArtur Atoyan: Problems of fish farmers are solved by the communist  method, that is, they are not solved at all
HSBC Bank Armenia digitalizes cooperation with retail clients HSBC Bank Armenia digitalizes cooperation with retail clients 
AmRating agency in cooperation with European Rating-Agentur Expert RA  GmbH has issued regular research on Armenia`s banking systemAmRating agency in cooperation with European Rating-Agentur Expert RA  GmbH has issued regular research on Armenia`s banking system
Yulia Ustyugova: Armenia can get access to IMF “insurance line”Yulia Ustyugova: Armenia can get access to IMF “insurance line”
Armand Arton: The question whether citizenship should be granted in  return for investments is rather rhetoricalArmand Arton: The question whether citizenship should be granted in  return for investments is rather rhetorical
Former head of the Ministry of Finance: <Confrontation> with Lydian may cost much to ArmeniaFormer head of the Ministry of Finance: with Lydian may cost much to Armenia
Vardan Aramyan: It will be unreasonable if the government goes to revise the allowable national debt ceiling in GDPVardan Aramyan: It will be unreasonable if the government goes to revise the allowable national debt ceiling in GDP
HSBC Bank Armenia increases efficiency and focuses on digital servicesHSBC Bank Armenia increases efficiency and focuses on digital services
Bulgarian Minister: The level of Armenian-Bulgarian economic  cooperation is still unsatisfactoryBulgarian Minister: The level of Armenian-Bulgarian economic  cooperation is still unsatisfactory
Expert: Recruitment market in Armenia from the point of view of  supply and demand is sleepingExpert: Recruitment market in Armenia from the point of view of  supply and demand is sleeping
Expert: Despite the adequacy of Armenian banks` capitals, the  opportunities for its optimal use are severely limitedExpert: Despite the adequacy of Armenian banks` capitals, the  opportunities for its optimal use are severely limited
Association of Organic Agriculture is being created in ArmeniaAssociation of Organic Agriculture is being created in Armenia
Pailak Tadevosyan: Governments change in Armenia, but taxation  approaches do not changePailak Tadevosyan: Governments change in Armenia, but taxation  approaches do not change
Rouben Indjikian: Everyone should follow the established unified and fair rules of the gameRouben Indjikian: Everyone should follow the established unified and fair rules of the game
Mher Arakelyan:  Armenia`s payment business has great prospectsMher Arakelyan:  Armenia`s payment business has great prospects

Search by date

Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000

Commented
Russian processing company Russian processing company "MultiCarta" discussed cooperation  opportunities with Yerevan Municipality in the transport sector
$ 270 Million to be invested in the construction of the first  skyscraper in Yerevan$ 270 Million to be invested in the construction of the first  skyscraper in Yerevan
The AGBU Women Entrepreneurs Program Launched in Artsakh: FRUITFUL  ARMENIA Foundation is the partnerThe AGBU Women Entrepreneurs Program Launched in Artsakh: FRUITFUL  ARMENIA Foundation is the partner
Forecast: Armenia has good prospects for expanding its presence in  the Polish marketForecast: Armenia has good prospects for expanding its presence in  the Polish market
Armenian government`s delegation headed by Prime Minister will take  part in the St. Petersburg International Economic Forum on June 6-7Armenian government`s delegation headed by Prime Minister will take  part in the St. Petersburg International Economic Forum on June 6-7
Concessionaire of Zvartnots International Airport promises to become  one of the best operators in the worldConcessionaire of Zvartnots International Airport promises to become  one of the best operators in the world
Arthur Javadyan: Central banks are not responsible for economic  growthArthur Javadyan: Central banks are not responsible for economic  growth
Forecast: Electricity exports to the Middle East through Iran are a  key component of Armenia`s geo- economic strategyForecast: Electricity exports to the Middle East through Iran are a  key component of Armenia`s geo- economic strategy
ArmInfo IC: In Armenia,  CMTPL loss ratio increased up to 64.5% in Q1  2019ArmInfo IC: In Armenia,  CMTPL loss ratio increased up to 64.5% in Q1  2019
From January 1, 2020, the cost of customs clearance of cars from  non-EEU countries in Armenia will increase by at least 4-5 fold:  whether the market for used cars is going upFrom January 1, 2020, the cost of customs clearance of cars from  non-EEU countries in Armenia will increase by at least 4-5 fold:  whether the market for used cars is going up
Overdue loans accelerate growth in banking system of ArmeniaOverdue loans accelerate growth in banking system of Armenia
RA Prime Minister: European Union is not ready to finance 100% of  development programs implementation in ArmeniaRA Prime Minister: European Union is not ready to finance 100% of  development programs implementation in Armenia
Converse Bank offers online loans at a low effective interest rateConverse Bank offers online loans at a low effective interest rate
Renco company will attract additional shareholders and partners to  the project of building a new thermal-power plant in ArmeniaRenco company will attract additional shareholders and partners to  the project of building a new thermal-power plant in Armenia
T.Avinyan: The Government is open for cooperation and encourages  active dialogue and interaction in all areas T.Avinyan: The Government is open for cooperation and encourages  active dialogue and interaction in all areas 
Agreement on construction of a new unit with combined gas cycle  signed in YerevanAgreement on construction of a new unit with combined gas cycle  signed in Yerevan
Veolia Jur: Regulatory charges are false and unfoundedVeolia Jur: Regulatory charges are false and unfounded
Armenian Prime Minister: We are gaining momentum for economic takeoffArmenian Prime Minister: We are gaining momentum for economic takeoff
Through the mobile banking application of Ardshinbank you can get a  loan in seconds.Through the mobile banking application of Ardshinbank you can get a  loan in seconds.
By the end of 2018, By the end of 2018, "Galburdjian Group" will launch the production of  sesame oil in Armenia
Expert: Armenia has a problem with effective use of water resources,  rather than small hydropower stationsExpert: Armenia has a problem with effective use of water resources,  rather than small hydropower stations
Investment forum Investment forum "Energy Week 2018" to be held in Armenia
Expert: It is necessary to start implementing the program for the  construction of a new nuclear unitExpert: It is necessary to start implementing the program for the  construction of a new nuclear unit