New Metro Station Project Ready; Requires $120-130 Million

The Yerevan municipality will attract private investments for the construction of a new metro station in the Ajapnyak administrative district. The development program for the entire Yerevan metro will also be implemented through private investments. This was announced to the media by Yerevan Mayor's spokesperson Hakob Karapetyan. According to him, there are several potential investors who are seriously interested in the project. However, the spokesperson did not wish to disclose names at this stage.

The Yerevan municipality has also provided the Haykakan Jamanak newspaper with the preliminary design of the metro station, which we present below.

During the celebration of the “Erebuni-Yerevan” holiday, while summarizing his first year in office on the stage of the Al. Spendiaryan National Academic Theatre of Opera and Ballet, Mayor Hayk Marutyan once again addressed the implementation of a new transportation system. He mentioned that the financial model has been finalized and is ready. According to the mayor's spokesperson, this refers to financial sources through which the transport reform will be implemented and a new network will be introduced.

Hakob Karapetyan indicated that international credit resources will most likely be involved for the creation of the new transportation network. It is worth noting that this only pertains to the modernization of the bus and trolleybus network.

In a conversation with Haykakan Jamanak, the spokesperson stated that the funds required for creating the new transportation network are currently estimated at least $120-130 million. “The community mainly expects government support for the transport reform, as the local budget’s resources are insufficient. Whether the government will do this through credit organizations or find another solution remains another part of the issue. In any case, the majority will be implemented through loan resources,” Hakob Karapetyan said.

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