Tuesday, April 25 2023 16:35

ArmInfo. The NA Standing Committee on Financial-Credit and Budgetary Affairs debated the draft  law on Ratifying Additional Agreement No.4 of the Agreement between the Republic of Armenia and the Eurasian Development Bank on the provision of an investment loan from the funds of the Eurasian Stabilization and Development Fund for financing of the draft on Constructing the North-South Highway Corridor (4th shift) at April 25 sitting, the press service of the RA NA reports.

According to the key rapporteur, the RA Deputy Minister of  Territorial Administration and Infrastructure Kristine Ghalechyan,  the Agreement designs the construction of a 32 km long road around  the North-South highway corridor, the total cost of which is  estimated at 236,681,000 US dollars.  It was noted that the  additional Agreement No.4 of the Agreement signed between the  Republic of Armenia and the Eurasian Development Bank on 14 April  2015 was signed on 17 November 2022.  According to the Deputy  Minister, the aim of the programme is to increase the capacity of the  above-mentioned road section and to reduce accidents.  According to  Kristine Ghalechyan, the additional Agreement envisages to extend the  term of access to credit funds and the increase of funds for the  construction of the 32 km Agarak-Kajaran road.  The Deputy Minister  stated that the construction works will start this year. According to  her, three years are planned for construction works.  The Chair of  the NA Standing Committee on Financial-Credit and Budgetary Affairs  Gevorg Papoyan mentioned that the policy of the Government and the  objective of our country is to become a part of the North-South  Corridor. In order to become a part of the great trade route  India-Iran-Armenia- Georgia-Black Sea-Bulgaria-Greece, it is  necessary to have modern, developed infrastructures, the  implementation of which is aimed at the additional costs designed in  the Agreement.  As a result of the debate, the draft law was  endorsed.

It should be noted that the international tender for construction  work was announced on October 24, 2022.  In December last year, the  opening of tenders took place. At this stage, applications from  international construction companies are evaluated. Earlier, Minister  of Territorial Administration and Infrastructures Gnel Sanosyan  reported that at present only the Artashat-Yerevan-Ashtarak section  is fully ready for operation within the North-South transport  corridor. According to him, only one of the five tranches has been  completed. The construction of the remaining four tranches is at  various stages of implementation.  The North-South project will  reduce the distance from the Iranian border to the Georgian border  from 556 to 490 kilometers. The road will significantly facilitate  access to the Black Sea not only for Armenia, but also for Iran. The  project 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  corridor was initially scheduled to be completed in 2019. The cost of  the project was constantly revised and increased.  Meanwhile, in  September 2012, when the construction of the highway began, the  amount mentioned by the representatives of the RA government was  several times less: 962 million dollars.