Tuesday, August 6 2024 11:24

ArmInfo. The construction of the 23-km Landjik-Gyumri section (Tranche-3) of the North-South road corridor investment program is in its final stage.

"The main road asphalting is nearly complete. The contractor is currently working on asphalt paving, building interchanges, installing curbs, metal blocks and other safety elements," the Road Department Fund said in a statement.

"North-South" is one of the biggest projects in the history of independent Armenia. This road will decrease the distance from the Iranian border to the Georgian border from 556 to 490 kilometers. It will significantly improve access to the Black Sea for both Armenia and Iran. As of May 2024, the investment program, officially launched on September 13, 2012, has been implemented by 10%, with attracted loans totaling $ 800.7 million.

In particular, for Tranche 3 (Talin-Landzhik, Landzhik-Gyumri), the Asian Development Bank provided $ 100 million, of which $ 75,700,516.1 has been used (deadline for funds use is December 31, 2024), 60 million euros ($ 64.3 million) were received from the European Investment Bank, of which 38,541,168,3 euros were used (deadline for funds use  is December 29, 2023). A grant of 6 million euros ($6.43 million) was received under the European Neighbourhood and Partnership Instrument (ENPI) (deadline for funds use is April 30, 2024). The same amount was received as a technical support grant, of which 9,317,247 euros were used. Co-financing by the RA within this Tranche amounted to nearly $50 million.