Iran allocates $60mln for Iran-Armenia highway constructionMarch 9, 2011 - 19:33 AMT PanARMENIAN.Net - Iran has allocated $60mln for Iran-Armenia highway construction. IRNA news agency quoted member of the Iranian parliament Ali Reza Manadi as saying that the road will become a bridge connecting Iran with Armenia, as a result of which the settlements located along it will start developing due to active contacts. In September 2009, the Armenian government and Asian bank signed an agreement on allocation of $500mln for the construction of 550km-long Iran-Armenia highway. According to the Asian Bank, the estimated cost of the project makes $1.5bln. However, only $300,000 have been allocated for the first stage of it. As part of the program, Armenia’s existing roads from the border with Iran up to the border with Georgia will be rehabilitated and expanded. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |