Construction of new Yerevan metro station will be fully financed  from government budget 

ArmInfo.The construction of the new Yerevan metro station will be fully financed from the government budget of Armenia. Mayor of Yerevan Hayk Marutyan told  journalists on September 14.

In his words, the total cost of the project will be about $ 35  million, which the Armenian government agreed to allocate.  Previously, it was planned to attract private investors for the  implementation of the program, but the conditions they proposed  turned out to be unfavorable for both the capital and the state. In  this regard, both the mayor's office and the government have come to  a common denominator that the project will be fully funded by  government money. The mayor stressed that the terms of the tender for  the preparation of design estimates are currently being developed.  After determining the winner and the availability of design and  estimate documentation, a competition will be announced to identify  contractors for construction work.

Earlier, ArmInfo, referring to  Minister of Territorial  Administration and Infrastructures of the Republic of Armenia Suren  Papikyan, reported that during 2020 the Armenian government will  determine the mechanisms for the construction of new metro stations  in Yerevan. According to him, various financing schemes for the  project are being  discussed - from state financing to attracting  private investors and  public-private partnerships. Suren Papikyan  reminded that 2 billion  drams have been allocated from the state  budget for the modernization  of the existing Yerevan metro stations. 

As of today, only 14% of these funds have been used, which is   associated with the spread of coronavirus.  He expressed hope that   construction work will resume this year.  The construction is carried   out by a Spanish company that won the tender. However, during the   implementation of the project the problem associated with the   accumulation of groundwater is already obvious, there is even a small   river. The solution to this issue will allow to intensify the   construction process.

To note, the project for the construction of a station and a bridge  across the Hrazdan River was previously discussed with investors. An  agreement has been reached that the  investor will finance all work  on the development of design estimates  for this program. After that,  based on the price of the issue,  construction will begin. Based on  the business model that the  investor offers, a business center and a  shopping center will operate  next to the future station.

To note, an average of $ 1 million of investments is needed for 1 km   of the metro line.  However, in the case of the new station, the   amount may turn out to be much smaller, since a significant amount of   work has already been completed in previous years.  Yerevan metro  named after Karen Demirchyan was founded in 1981. In  total, there  are ten metro stations in Yerevan with a total length of  13.4  kilometers.