12 February 2011, 20:00
EBRD to finance modernization of Yerevan metro
On February 10, the National Assembly of Armenia ratified the agreement signed with the European Bank for Reconstruction and Development (EBRD) on the first phase of the programme aimed to modernize the Yerevan metro. The bank grants a 15-million-euros loan for the purposes.
The first phase assumes to improve the safety of the underground transport; in particular, repair of the rolling stock and infrastructures, and improvement of the power supply system.
It is planned to complete the first phase of the programme in 2012, and the second one, which involves replacement of the pumping stations and, thus, solution of the problem of removing the groundwater, should be completed in 2013. Experts have calculated that these works, which will require about 30 million euros, will allow halving the electricity costs.
The Yerevan metro was launched on March 7, 1981; it has 10 stations on one line and the total length of tracks of 13.4 km. Eight more stations are planned. In 2001, in order to save funds, it was decided to switchover from three-car trains to two-car ones.
Author: Lylyt Ovanisyan Source: CK correspondent
