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Armenia's North-South Road Corridor to benefit entire region: official

Xinhua, May 15, 2015 Adjust font size:

Armenia's North-South Road Corridor will benefit the whole region as neighboring Iran and Georgia will be engaged in the project, an Armenian senior official said Friday.

Armenia has started negotiations with Iran and Georgia on upgrading the North-South Road Corridor into a regional program, Armenian Deputy Minister of Transport Arthur Arakelyan said.

"We have already carried out necessary work in order to engage our neighbors, Iran and Georgia, in this important project for the whole region," he said.

According to the minister, following negotiations, Armenia and Iran have drawn up a memorandum of understanding, which would be signed "very soon," while Armenia-Georgia negotiation is still underway.

Arakelyan said that one of the main advantages of the program is that the future corridor will link ports of the Persian Gulf and the Black Sea, and that the transport time will be reduced by one month.

The North-South Road Corridor is a major infrastructure project in Armenia, which is aimed at connecting the northern and southern regions of the country by a high-tech road corridor.

The project, jointly funded by the Asian Development Bank and the European Investment Bank, is expected to cost 1.5 billion U.S. dollars. Endi