YEREVAN (Arka) — The construction of another section of the North-South transport corridor will kick off later this year, Deputy Transport and Communications Minister Artur Arakelyan said today.
He said the parliament has already approved an agreement with the Eurasian Development Bank (EDB) that will provide a loan of $150 million for the construction of a 21 km-long section stretching from Agarak to Kajaran in the southern province of Syunik.
The first two sections of the transport corridor were inaugurated on December 29 last year. The first, six-lane section stretches from Yerevan to Artashat and the second four-lane section runs from Yerevan to Ashtarak. Both have a 100-110 km/h speed limit and make up a total length of 31 km.
The goal of North-South Transport Corridor project is to upgrade Armenia’s main corridor road as part of a broader thrust to improve connectivity, and boost trade, growth and livelihood opportunities in the Caucasus and Central Asia sub-regions.
Funds are being released by the Asian Development Bank and the Eurasian Development Bank periodically through multi-tranche financing facilities. The transport corridor will stretch from the southern Armenian town of Meghri, on the border with Iran, to Bavra in the north on the border with Georgia. The North-South transport corridor will enable Armenia to mitigate the effects of the blockade imposed by Azerbaijan and Turkey.
Currently the construction of the road is underway from Artashat to Ashtarak and from Ashtarak to Talin. The Ministry of Transport and Communications also is planning the implementation of separate smaller projects at various sections of the road in order to end the construction both in southern and northern directions by 2019.