On November 1, the RA Ministry of Transport and Communication hosted unsealing of competition packages for bids on rehabilitation of 11.71km-long Yerevan-Ashtarak section of Iran-Armenia transport corridor.

13 construction companies expressed willingness to participate in the competition. However, only three companies submitted relevant documents: Austrian STRABAG International, American Feletechnologies and Spanish MJGRUAS, which offered USD 51.141mln, 18.944mln and 22.618mln respectively, the Ministry’s press service reported.

The tender committee will study and estimate the competition packages to present them to the Asian Development Bank, after which they will be submitted for the Governing Council’s approval. As the project cost exceeds USD 1bln, a governmental decision will be adopted, after which an agreement will be signed with a contractor.

The construction works are planned to be launched in spring 2011 and completed on October 1, 2012, with the Asian Development Bank and RA government to finance the works.