YEREVAN, Armenia -- Armenian Ministry of Transport and Communication signed an agreement on May 25 with China's leading construction company Sinohydro on the construction of a part of a high-speed road known as North-South Road Corridor in Armenia.
Having won the tender for which 6 companies have made bids, Sinohydro will receive around 59 million U.S. dollars to complete the construction of the 18.7km-long section of the road beginning from the town of Talin to the village of Lanjik before 2018.
The official ceremony for the signing of the agreement was attended by Sinohydro Deputy Director for the Eurasia region Li Liushan and Chinese Ambassador to Armenia Tian Erlong and other Chinese officials. For Armenia part, First Deputy Minister Artur Arakelyan and other employees of the Armenian Ministry of Transport and Communication were among those present at the signing event.
Li Liushan said, "we are capable of implementing the works mentioned in the agreement with high quality and within the given time frame."
"We are confident that the construction will be completed successfully and we will soon again get together to celebrate the effective implementation of the project," said Artur Arakelyan.
The project for the construction of a transportation corridor dubbed North-South Road Corridor from the Armenian border with Georgia all the way down to the Iranian border was approved by the Armenian government in 2010. A high-speed road is planned to be built with the total length of 556km where the maximum speed will be 100-110km per hour.
It is expected that with the high-speed road, the average time it will take from the Armenia-Georgia border to get to the Armenian border with Iran will be cut by 9 hours and will thus be possible to reach the south of Armenia from the north in about 4.5 hours.
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