Is There a Second Metro Station Instead of One? Economy Deputy Minister Elaborates on Discussions

The authorities are also discussing the construction of a second metro station in Yerevan, although a final decision has not yet been made, said Armenia's Deputy Minister of Economy Narek Teryan in an interview with Sputnik Armenia.

“At this moment, we are considering various financial instruments. It’s not so much about a loan but other instruments. We are currently in dialogue with the Russian agency for Export Credits and Investment Insurance. I believe that in the near future, we will be able to set the criteria with them, indicating which direction we are moving toward, whether it will be a loan or another financial instrument,” Teryan noted.

According to him, among the possible instruments are leasing programs from the Russian agency for Export Credits and Investment Insurance. A final decision, he stated, has not yet been reached.

Currently, “Metrogiprotrans” has proposed a development project for the metro. “The discussion is not only about one metro station but also about the option of extending the line and constructing a second metro station. In other words, this is a fairly large project that requires coordination. But I hope that we will determine the final parameters soon and will be able to announce it to the public,” Teryan added.

Regarding the $500 million loan, he mentioned that this is a preliminary amount. Since the project has not yet taken a definitive shape, it is too early to talk about the funds.

From a cost perspective, it is more advantageous to construct two stations at once. Previously, it was reported that the Russian company “Metrogiprotrans” was recognized as the winner of the competition for the design of the new “Ajapnyak” metro station in Yerevan. The ceremony for signing the design contract for the “Ajapnyak” station with this company was held at the Yerevan City Hall on November 20.