Armenia’s Ministry of Transport, Communication and Information Technologies plans to carry out investment programs of over 116 million USD in 2017. Minister Vahan Martirosyan told “Armenpress”, the programs will be implemented in 3 key sectors – road construction, telecommunication and information technologies.

“The main investment programs presented by the Government in terms of the Ministry will be financed in 3 formats, from the state budget, as well as through loan and private investment programs”, the Minister said, adding that over 26 million USD investment from the state budget and nearly 25 million USD investment from loan resources will be made for implementing the road construction programs.

“The investments from loan resources can be modified to increase within the year. This also depends on the state budget receipts, since the issue of revising to increase the loan programs is being discussed with the Finance Ministry. The communication and IT sectors are included in the list of investment programs in the statement recently issued by the Ministry of Economic Development and Investments. Here the private sector is expected to carry out over 65 million USD investment”, the Minister said.

As for the expected programs with the private financing in the communication and IT sector, the Minister said it includes refurbishment and modernization of networks in the electronic communication. “This will enable to expand, improve the quality and access of network, communication and services within Armenia’s territory”, he said. It is expected to establish “Data processing” Center in Armenia in the IT infrastructure sector through a private investment program. The Minister informed that 2 programs in the IT sector will be implemented by the state budget resources, which includes the promotion of IT sector services, and the program implementation of the activity of the technological centers of Gyumri and Vanadzor.

“A number of investment programs in the road construction sector are also expected to be conducted which include maintenance and operation of state and inter-state roads of Armenia under the state budget resources, reconstruction of over 50km long roads and bridges, tunnels on these roads”, Vahan Martirosyan said. The construction works of a number of programs under the finance of loan resources will continue in 2017, such as “North-South transportation corridor” investment program, the loan program on restoration and improvement of Vanadzor-Alaverdi-Georgia border inter-state road, as well as the Lifeline Roads Improvement Project by the assistance of the World Bank.

“The construction project of bridge of Armenia’s Bagratashen border checkpoint will launch by the assistance of the European Bank for Reconstruction and Development”, Minister Vahan Martirosyan said.