YEREVAN – Armenia’s Ministry of Transport and Communications announced launch of “Southern Armenia Railway” and “High Speed Road” Projects.
The project estimated at $3 billion will be implemented by a Rasia FZE Company registered int he United Arab Emirates.
“China and Russia will cooperate with Armenian to develop strategically important railway which is a key part that North-South Transport Corridor lacks,” the statement said.
Trilateral memorandum of understanding was signed by Transport Ministry, Rasia FZE, and South Caucasus Railways CJCS during a ceremony on Friday (January 18th).
The implementation of the programs are among the provisions of President Serzh Sargsyan’s election platform, and is one of the strategic priorities of the country.
The road will stretch from Meghri to Gagarin; no expenses will be covered by the state budget, Armenian Ministry of Transport and Communication Gagik Beglaryan said.
The signing ceremony was attended by senior government officials, ambassadors, representatives if investment and sovereign wealth funds as well as corporate leaders from Armenia, China, Russia, the United Arab Emirates and Iran.
The Southern Railway of Armenia will be a single track electrified railway 316 km long, extending from the area located next to Lake Sevan to the southern border of Armenia near the town of Meghri where the line will be connected with the existing main Armenian railway system. The Southern high speed railway of 110 km and will run from Sisian to the southern border of Armenian near the town of Meghri.