Thursday, April 9 2020 15:20
Alexandr Avanesov

Subcontractors involved in construction of t North-South transport  corridor will receive a budget loan of 2.2 billion drams

Subcontractors involved in construction of t North-South transport  corridor will receive a budget loan of 2.2 billion drams

ArmInfo. Subcontractors involved in the construction of the North- South transport corridor will receive a budget loan of 2.2 billion drams. The corresponding  decision was made at a meeting of the RA Government on April 9.

According to the Minister of Territorial Administration and  Infrastructures of the Republic of Armenia Suren Papikyan, 28  subcontract organizations and individuals will receive a budget loan,  bound by contractual obligations with the project contractor  represented by the Spanish "Corsan Corviam" company, which, after  declaring bankrupt, did not pay the required amount. The minister  stressed that a budget loan is granted for a period of five years and  an annual rate of 0.01%. This measure, the minister noted, will  enable Armenian companies to improve their financial situation and  continue work in the field of road construction. The selection  committee did not accept some sections of the road because of a  discrepancy in quality, and now it is also necessary to attract  additional financial resources for their modernization. Suren  Papikyan recalled that a criminal case has been instituted against  the Spanish company, an investigation is underway.

However, as RA Prosecutor General Arthur Davtyan noted, the  leadership of some companies was associated with the leadership of  Corsan Corviam, and criminal cases were also instituted against them.  For this reason, he called for a list of respectable companies so  that state assistance is targeted. RA Prime Minister Nikol Pashinyan  agreed with this.

To recall, in the process of building the road, numerous violations  were identified, many of which criminal cases were instituted.  Earlier, the RA Prosecutor General's Office reported that the  officials involved in the development and implementation of the  program, without reason, without the right to compensate for the  damage, agreed to continue the construction and extend the terms for  providing advisory services. In some cases, consultancy contracts  were raised for consultants, and services provided included  repetitive work that was not necessary. Also, no measures were taken  to ensure daily monitoring to comply with the quality standards of  building materials, and, in particular, cement. As a result of the  coordination of the changes with the contractors, despite the obvious  shortcomings in the construction and concreting, the road sections  within Tranche-1 (Yerevan-Artashat and Yerevan-Ashtarak) were put  into operation. Thus, the Prosecutor General's Office stated that the  officials involved in the program did not fulfill their official  duties, inadvertently leading to grave consequences. In particular,  in addition to the fact that over about 9 years all the stipulated  deadlines were reached during which the construction work of the  North-South road and related expectations regarding the reduction of  travel time, safe and high-quality transport links to the north of  the country, were not completed south, the development of business  ties. As a result, the state suffered damage in the amount of 23.5  billion drams. On the basis of the above, the Prosecutor General's  Office opened a criminal case on the basis of the second part of the  308th article of the RA Criminal Code, sending it to the  Investigative Committee for a preliminary investigation. 

POST A COMMENT
Input digits     


News


Exchange rates
04.06.2020
RUB6.97-0.08
USD482.11-0.27
EUR539.87-1.02
GBP603.94-3.28
CAD356.720.06
JPY44.25-0.09
CNY67.890.02
CHF502.040.87



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