Today.Az » Politics » Armenia to receive $60 million in ADB loan for North-South highway construction
22 December 2009 [12:44] - Today.Az
The Asian Development Bank (ADB) will issue a U.S. $500m loan for the construction of the North-South highway.
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/
|
|
