Armenia unilaterally terminates the contract with the North-South highway - the Spanish company Corsan-Corviam Construccion, said Deputy Prime Minister Tigran Avinyan at the Armenian Parliament on Wednesday.

According to the vice premier, they have problems with the company. 

“The company is going into bankruptcy, and we are currently in the process of unilaterally breaking the contract. With a high degree of probability there will also be an arbitration process, ”he said. 

According to Avinyan, this same process also accelerates the construction of the road, since a company going to bankruptcy would be unable to build it.

“Now we are discussing how this issue will be resolved,” he noted adding that it is possible to organize a tender for the construction of this section of the road. 

The North-South corridor should provide access to the Black Sea and to European countries through the territory of Armenia and Georgia. The investment program is aimed at ensuring communication between the north (border with Georgia) and the south of Armenia (border with Iran) through transport communications, and access to world markets.