Armenian Minister of Transport and Communications Gurgen Sargsyan on January 26, 2010 received an Italian delegation led by the Italian Deputy Minister of Economic Development Paolo Romani, press office of the ministry reported.
The minister stressed, that Italian practices can be applied to intensify economic development of Armenia.
During the meeting, attended by the Armenian Minister of Economy Nerses Yeritsyan, issues of digitization of broadcasting, Internet access, railway, road construction were discussed. Paolo Romani noted that Italian construction companies are well known and expressed the hope that they will participate in an international competition for the North-South highway construction.
The deputy minister did not rule out that Italian companies may participate in the railway construction project in Armenia.
January 15, 2010 the Government of Armenia approved "Investment Program on North-South Road Corridor Construction" . The total cost of the investment program, financed by Asian Development Bank, will reach USD 500 million and involves construction of Agarak-Kapan-Yerevan-Gyumri-Bavra highways and the road infrastructures. The construction of the corridor will improve the road link with Iran and Georgia, providing access to international destinations and markets. USD 120 million worth construction works are projected to implement in 2010. Iranian banks are also ready to finance the construction of separate parts of the highway.
