YEREVAN. – Armenia can hardly attract the transit of oil products from the Middle East to Europe, Deputy Economy Minister Garegin Melkonyan said during the parliamentary hearing on Friday.
The most convenient way to transport oil is through sea, more beneficial than railways, let alone the roads, the official explained.
Nevertheless, North-South Road Corridor can ensure transit of other goods and passengers.
“Armenia's attractiveness for tourists will increase considerably, but it is difficult to make any predictions, as construction will be completed by 2020,” Melkonyan said.
The road corridor will facilitate improving the road connection with the two neighbors of Armenia: Iran and Georgia. Overall construction of the project is estimated at around $960 million with the main donor being the Asian Development Bank.
