Friday, 27 April 2012
Memorandum Signed On North-South Road Corridor Investment Program
A memorandum was signed April 27 on North-South Road Corridor Investment Program between the Ministry of Transport and Communications of the Republic of Armenia, the Asian Development Bank and the Spanish Corsan Corviam Construction S. A.
At the press conference that followed the signing ceremony, Minister of Transport and Communications Manuk Vardanyan appreciated the long-awaited signing of the contract. “Allowing for motor traffic at 100 km / h, the North-South highway is a first-class concrete road to link neighboring Iran with neighboring Georgia enabling access to Iranian and Georgian ports. It will be Armenia’s first-ever high-speed road,” the Minister emphasized.
According to the speaker, the project implies construction of engineering structures – bridges and tunnels – to allow cross-movement of agricultural machinery and livestock.
Bids had been received from six companies, including the winner - the Spanish Corsan Corviam Construction S. A. - which according to Manuk Vardanyan will usher in a breakthrough in Armenia’s road building culture.
President of Corsan Corviam Construction S. A. Francisco Garcia Martin said to be highly honored for confidence. “We are working in some 25 countries. This is the first project implemented in Armenia. In cooperation with the Ministry of Transport and Communications, we will have to complete the project within 36 months, which is a challenge for us,” Mr. Martin stated noting that work is scheduled to start as soon as possible.
The project is financed by the Asian Development Bank, which plans to invest 1.5 billion U.S. dollars. ADB representative David Dole said they are proud to be in Armenia and support the project. The signing of the contract can be deemed as a great start.
Details available in the audio material
