By ashleykaren
Armenia and Iran signed an agreement worth $214.6 million on the 32-kilometer Agarak-Kajaran highway construction in the Syunik region of Armenia on the border with Iran as part of the North-South transport corridor.
The project is funded by loans from the Eurasian Development Bank and co-financing from the Government of Armenia. Five interchanges, six overpasses, two tunnels with a total length of 920 meters, and 17 bridges will be constructed as part of the program.
As Kerobyan claimed, shortening the route only in the specified section will compensate for 30 minutes of travel time, which is a significant circumstance from the point of view of economic calculations.
He also mentioned that road duties’ elimination for cargo transportation by Armenia and Iran “will be invaluable in terms of diversifying Armenia’s exports.”
Vahan Kerobyan, Armenian Minister of Economy, revealed: “The implementation of the project for the construction of the southern section of the North-South highway, implemented jointly with the Iranian side, will have a great impact on the economy of Armenia; in particular, a positive impact on GDP of about 0.4% is expected.”
Armenia’s Ministry of Territorial Administration and Infrastructure declared that the agreement on the overhaul of the Agarak – Vardanidzor road (21 km) and the construction of the Vardanidzor – entrance to the Kajaran tunnel (11 km) road within the framework of the North-South Road Corridor Investment Program-Tranche 4, was signed by the Executive Director of the Road Department Gor Avetisyan and representatives of the Iranian companies; ‘Abad Rahan Pars’ and ‘Tunel Garden Ariana’ Ali Mousavi and Alen Yusefyan.
Construction work is planned to start at the end of 2023 and be finished within three years. After the reconstruction, the road section will meet cutting-edge international standards in terms of road safety, comfort, and travel time reduction.
