Armenia to receive $60 million in ADB loan for North-South highway construction

Armenian Minister of Transport and Communication Gurgen Sargsyan reported that U.S. $60m is expected next year.

The project is estimated at U.S. $622m. The construction concept was developed by the German-Austrian ILF Company, and the PADECO Company conducted a feasibility study.

The first tranche will be channeled to the work at the Yerevan-Ararat and Yerevan-Ashtarak sections, and the second and third tranches to the Ashtarak-Gyumri and Goris-Kapan section.

The Minister said that the highway will reduce time to reach Batumi and Poti from Yerevan.

/News.am/