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Infrastructure development, road construction and other projects discussed at the meeting of the Investment Committee


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Chaired by Prime Minister Nikol Pashinyan, the discussion of the issues included in the agenda of the fifth session of the Investment Committee continued.

First, the technical and economic feasibility study of the project "Creation of a dry port in Shirak Province" approved in the 3rd session was presented. The project will contribute to speeding up the movement of cargo, increasing the quality and volume of cargo transportation. As a result, a multi-model dry port will be created through industrial parks that are a free economic zone, Armenia will become a transit transport and export-focused manufacturing hub.

Minister of Economy Vahan Kerobyan, detailing, noted that as a result of the implementation of the project, thousands of jobs will be created in Gyumri, as well as a transport hub, which will be connected by air, land and railway to the nearby ports and major transport routes. According to Vahan Kerobyan, the project will have a great economic impact not only on Shirak Province, but also on the whole of Armenia. The Minister of Economy also added that the project is integrated into the "Crossroads of Peace" project and is the northwestern node of the "Crossroads of Peace", which, if implemented, will ensure Armenia's connection with other countries in the region.

According to Vahan Kerobyan, the Government has its share of the investment, which amounts to 37 million USD, but also large foreign investors will be involved, who should be the operators of the dry port and whose investment volumes will be significantly larger. "Also, we should attract industrial companies that will create their capacities in the industrial park. The implementation of the project is planned during 5-7 years", added the Minister of Economy.

As a result of the discussion, a decision was made to give preliminary approval to the project. The Prime Minister instructed the Ministry of Economy to create a "road map" for the implementation of the project to clarify what needs to be done further.

Within the framework of the agenda, new projects were presented to the committee members. Within the framework of the road construction project of the city of Yerevan, the projects "Construction of the road section of the Tbilisi highway-Yeghvard highway" and "Construction of the new Rubinyants-Acharyan road" were presented.

Yerevan Mayor Tigran Avinyan emphasized that the construction of the bridge connecting Tbilisi Highway to Mikoyan Street is an extremely important project that connects the M4 highway to the North-South bypass road and added that another bridge is being built over the Hrazdan River, which will have a significant impact from the point of view of offloading motor transport from the Arabkir administrative district.

Presenting the second project, the Mayor emphasized that as a result, traffic on Acharyan-Myasnikyan streets will be significantly reduced and added that this project will also have a positive impact in terms of traffic jams in Yerevan. "Surely, these two programs should be implemented with the support of the Government. These are big projects, and these projects will have a significant impact not only in the city of Yerevan itself, for the citizens of Yerevan, but also for the cargo carriers, who will have the opportunity to bypass the city of Yerevan," said Tigran Avinyan.

As a result of the discussion of the projects, a decision was made to carry out a technical and economic feasibility study at the first stage, based on the results of which it will be possible to implement the projects.

Tigran Avinyan noted that the construction of the Tbilisi-Mikoyan road section and the bridge will take approximately 4-5 years, and the road connecting Rubinyants and Acharyan streets will be possible to implement a little faster.

Next, the "Hydrogen economy" project was presented. The Minister of Economy noted that various countries are trying to include green hydrogen production in their energy transformation and added that Armenia is considering the solar energy option of green hydrogen production from renewable energy resources.

As a result of the discussion of the project, it was decided to create a working group dealing with hydrogen issues, which will include both officials, representatives of private consulting companies, and scientists. The purpose of the formation of the working group is the development of Armenia's hydrogen strategy.

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