Armenian Parliament ratifies corridor

The Armenian Parliament has ratified a framework agreement with the Asian Development Bank for allotting USD 500 million for the construction of a north-south motorway transport corridor which will connect Armenia with the Georgian Black Sea ports of Poti and Batumi. Armenian Minister of Economy Nerses Yeritsian states that this project will create the appropriate transport infrastructure in the region and increase the speed of international transportation.

A feasibility study states that the project should be viable and eventually facilitate the growth of Armenia’s economy. The initial estimated cost of the project is USD 962 million.

The general concept of the project was prepared by the German and Austrian company ILF, the feasibility study was prepared by the company PADECO. Some other countries have also expressed an interest in participating in building this motorway, including Italy, Brazil and Iran, which could also use it for transporting goods to the Georgian ports.