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Tuesday, 25 October 2016


Italians show interest to road from Armenia to Georgian ports

2010-02-03 10:32

Italian companies can take part in construction of North-South highway, said Paulo Romani, deputy Minister of Economic Development of Italy, at the meeting with Gurgen Sarkisyan, the Minister of Transport of Armenia, held in Yerevan - Trans-Port.


Romani didn't rule out participation of Italian companies in construction of Iran-Armenia railway.

In the course of the visit of Armenian President Serzh Sargsyan to Georgia on September 30th-October 1st 2008 agreement to build Yerevan-Gyumri-Akhaltsikhe-Shuakhevi-Batumi corridor was reached. It's a part of North-South corridor, providing Armenia with access to the Black Sea.

The credit agreement on financing the North-South highway has already been signed between Armenia and the Asian Development Bank. This year USD 120 mln must be spent on it.

Today the Armenian parliament ratified the frame financial agreement with ADB for the sum of USD 500 mln for construction of the aforesaid corridor.

According to Nerses Eritsyan, the Minister of Economy of Armenia, the first tranche will amount USD 60 mln. The credit rate is 1 per cent, 8 years of grace period, within next 24 years the rate will reach 1.5 per cent. He said the profit from the program will amount USD 11-15 mln.


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